Beijing Review: As you are going to address the Boao Forum, what is your view on Asia’s searching for a win-win situation in relation to its collective economy?
Shaukat Aziz: I believe in the vision of the Asian Century. The economic center of gravity has indeed shifted to Asia. All economic fundamentals for Asia are positive. Asia possesses huge natural resources, has the right demography, technological and entrepreneurial excellence, an industrious work force and many shining examples of working the economic miracle. China’s great economic progress is a source of strength for the global economy. It has imparted a good growth dimension to the Asian region as a whole.
Distinct as Asian values and cultures are, so should be the Asian growth and development model.
Asian economic focus should remain on sustainable growth. To achieve sustainability, the economic growth has to follow a pattern that redresses iniquities, raises living standards universally, is sustained and is fully compatible with our environment and eco-systems.
What is your impression of the current bilateral cooperation on trade and economy between the two countries?
There is realization in both Pakistan and China that our economic and trade relations are not commensurate with the excellent political and strategic partnership. I feel that time has come to reinforce our traditional friendship with a strong and vibrant economic partnership as well.
Let me outline the plans that we have to further promote economic cooperation between Pakistan and China. During President Musharraf’s visit to China in February last year, our governments signed a Framework Agreement on Enhancing and Deepening Economic and Trade Cooperation. Subsequently, during President Hu Jintao’s visit to Pakistan in November last year, our two countries signed a Five-Year Development Program on Trade and Economic Cooperation. This agreement lays a solid framework for enhancing our trade and economic ties. We are trying to move toward project cooperation to fully implement the Five-Year Program. We are going to sign the agreement for launching the Pakistan-China Joint Investment Company during my visit.
Pakistan and China concluded the Free Trade Agreement (FTA) last year. We are going to start negotiations for FTA in services this year. Our bilateral trade last year exceeded $5 billion and we plan to take it to $15 billion in the next five years.
Similarly, we are taking concrete measures to attract greater Chinese investment. 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.
