ISLAMABAD/BEIJING: (HRNW) Pakistan and China on Friday inked the Framework Agreement on Industrial Cooperation under China Pakistan Economic Corridor (CPEC).
The prime minister reached Beijing on Thursday to attend the opening ceremony of the Winter Olympics and meet the Chinese leadership.
State Minister and Chairman Board of Investment (BOI) Muhammad Azfar Ahsan and Chairman National Development and Reform Commission (NRDC) He Lifeng signed the accord.
The objective of the Joint Working Group (JWG) on Industrial Cooperation is to attract Foreign Direct Investment (FDI), promote industrialization and development of economic zones, and initiate, plan, execute, and monitor projects, both in public as well as the private sector.
The engagement with China under JWG is envisaged to increase labour productivity in Pakistan, enhance industrial competitiveness, increase exports, and sustain diversification in the exports basket.
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