At the moment, our trade is already above $5 billion, and we have a target of $15 billion in the next five years. Currently, we must admit that the trade is heavily weighted in favor of China. We don't resent that, because we also feel that the Chinese have agreed to extend economic cooperation to Pakistan. China's economy has made great strides in the last 10 to 15 years. Pakistan hopes more Chinese capital will be invested in Pakistan. These days, products are not made just in one country. Different components are made in different countries and they are assembled in yet a different country. In this way, hopefully, the imbalance of trade will be redressed. Maybe some goods will be exported from Pakistan through the efforts of the Chinese entrepreneurs who invest in Pakistan. I hope the groundwork laid by the free trade agreement and the Five-Year Program on Trade and Economic Cooperation will be utilized, because the leadership of both countries is focused on making sure that our strong political and defense relationship is underwritten by a strong economic relationship.

President Musharraf once proposed the idea of promoting Pakistan's role as an energy and trade corridor between China and the Middle East. Is there any progress on this?

Because of its strategic geographical location, Pakistan can serve as an energy corridor for China. The inauguration of Gwadar Port on March 20 is an important element of such a strategy. We are planning to initiate studies on building oil and gas pipelines and transportation networks from Pakistani ports overland to China. Our interest therefore is to develop Gwadar not only as a trans-shipment port but also as an "energy port."

Pakistan and China signed the Framework Agreement on Energy Cooperation during President Pervez Musharraf's visit to Beijing in February last year. The agreement reflects the determination of both governments to promote comprehensive cooperation in the energy field, including fossil fuels, renewable resources and coal, as well as to exploit Pakistan's potential as a bridge state for the transport of energy and for trade.

In pursuance of the Framework Agreement on Energy Cooperation, the first Pakistan-China Energy Forum was held in Islamabad in April 2006 in which more than 50 Chinese enterprises participated.

We have ambitious plans for oil and gas exploration. There are very good prospects for oil and gas finds in Pakistan. Considering our excellent bilateral relations, we would like Chinese companies to take the lead in this sector.

We have plans to construct oil refineries, oil storage facilities and LNG (liquefied natural gas) terminals and establish a petrochemical industry. We have huge coal reserves that can be utilized not only for power production but also for making fertilizers and other products.

Pakistan is in the process of privatizing the oil and gas sector. We encourage Chinese corporations to take an active interest in this program.

We are looking at the possibility of establishing industrial and hi-tech zones in Pakistan. We are also working toward creating economic and energy zones in addition to other efforts I have already explained. All these efforts form different parts of the strategy to develop Pakistan as an energy and trade hub.

The Gwadar Port project has been widely watched by the media. What benefit will it bring and will it threaten the interests of other countries?

Central Asian oil and gas reserves can come through Pakistan to the port of Gwadar and be exported to Europe or America. The port is not a threat to anybody. Actually, it is a win-win for China, Europe and America potentially. Currently, most of the oil and gas reserves come from the Gulf states. Potentially, however, the biggest reserves are in Central Asia. I don't feel there is a need for any country to feel threatened or alarmed. Gwadar Port is a great economic project that can benefit the whole world by providing the shortest route to Central Asian oil and gas reserves.