Within the frame work of Pakistan-China Joint Committee on Economic, Trade, Scientific and Technological Cooperation, Pakistan and China have signed a Memorandum of Understanding (MoU). The signed contract is on the establishment of Economic and Trade Cooperation Working Group. The pact has been signed by Chinese vice Minister of Commerce Ren Hongbin and Mian Asad Hayaud Din, Secretary Economic Affairs Division. As per the conditions, Pakistan and Xinjiang Uygur Autonomous Region of China will develop mutually beneficial and win-win economic and trade relations. This will help to achieve sustained and healthy development of economic and trade cooperation between Pakistan and China, with the Ministry of Economic Affairs reaching a consensus on the Working Group. The main chores of the signed pact include: implementing consensus related to Xinjiang reached during the Pakistan-China Joint Economic Council (JEC) and enhancing the cooperation between Pakistan and Xinjiang in trade, investment, transportation, energy, logistics, finance, information, agriculture, tourism, etc. and promoting progress in cooperation in relevant fields. The Working Group will provide suggestions on deepening the economic and trade cooperation between Pakistan and Xinjiang. While discussing measures of expanding and facilitating trade to optimizing trade structure by advancing mutual investment, economic and technological cooperation, this will improve the investment environment and so on. The Working Group is working under direction of Pakistan-China JEC, and is led by the Ministry of Economic Affairs Pakistan and Government of Xinjiang Uygur Autonomous Region of the People’s Republic of China respectively.
