BEIJING, April  27 : Five China-Pak MOUs were signed at 2021 SCO International Investment and Trade Expo’s Forum held at Qingdao for promoting Special Economic Zone (SEZ) ties.

According to China Economic Net, the forum on Local Economic and Trade Cooperation opened on Monday. At the opening ceremony, the five MOUs were signed that included sister cities’ interaction and bank cooperation.

 “At the crossroads of the Middle East, Central and South Asia regions, Pakistan’s geo-economic location puts us as the economic hub for global developmental projects. The Government has incentivized industries and investment. 

The rate of return in business is much higher than the global average with leading Multinational Corporations (MNCs) making higher profits than elsewhere,” said Pakistani Ambassador to China Moin-ul-Haque while addressing the ceremony.

The MOUs were reached between China-SCO Demonstration Zone for Local Economic and Trade Cooperation in Qingdao and Gwadar Free Zone, Rashakai Special Economic Zone, and Habib Bank respectively to further enhance China-Pakistan economic and trade cooperation. The project of Pakistan-China Center is also included in the signing.

Besides, Qingdao has been twinned with Faisalabad at the cerenomy, signed by Ambassador Moin-ul-Haque.

At this year’s SCO Expo, various products shining Pakistani features attracted people’s attention. Rosewood furniture, fur coats, scarves, onyx and jade handicrafts, brass and bronze handicrafts, etc. are exhibited in Pakistan Pavilion.

The Ambassador Moin-ul-Haque further said, “ Pakistan shares China’s vision for an active participation in international cooperation on COVID-19, a win-win strategy for all, promotion of sustainable development, advancing science, technology and innovation, and a global order based on development partnerships, cooperation and collaboration,”