EMCO Industries of Pakistan and Liaoning Hualong Group of China have signed a memorandum of understanding (MoU) at the Lahore Chamber of Commerce and Industry, for joint venture in the sector of high voltage engineering and electrical products in Pakistan to facilitate transmission/distribution of electricity.
The MoU was signed in the presence of the LCCI President Abdul Basit, Chairman Liaoning Hualong Group and head of 4-member Chinese delegation Xiao Qiang LIU.
Liaoning Hualong Group is involved in manufacturing of engineering and electrical products for transmission and distribution system, while, Emco Industries is the only producer of porcelain insulators in Pakistan and caters for almost 95 percent of all demand of insulators up to 220 KV in Pakistan and is also exporting insulators to various countries like Turkey and the Middle East.
Speaking on the occasion, Chairman Liaoning Hualong Group Xiao Qiang LIU said that doing business with the Pakistani counterparts is top priority of the Chinese businessmen and they always keen to make their relations stronger with Pakistani businessmen.
The LCCI President Abdul Basit welcomed the MoU between Liaoning Hualong Group of China and EMCO Industries of Pakistan and hoped that it would further strengthen trade and economic relations between the two countries.
He said that such initiatives are a must to carry the mutual trade volume to the mark of US $15 billion. Pakistani businessmen have keen interest in enhancing their business relations with their Chinese counterparts as China has not only emerged as global economic leader but is also play unique role in economic development of Pakistan, he said.