China will provide a credit line of US$ 500 million to Pakistan on a soft-term basis, which would be utilised for projects to be undertaken with the assistance of Chinese companies.
Finance Minister Shaukat Aziz added that this preferential credit limit is a good achievement besides the signing of the Preferential Trade Agreement (PTA), which was inked during President General Musharraf’s visit to China.
Shaukat Aziz said that during the visit to China, 28 agreements were signed, eight in public level and 20 by the private sector. He added that the two sides also decided to strengthen the role of Pakistan-China Business Council. He added that the two sides also agreed to improve laws and regulations, standardise enterprise behaviour and create favourable conditions for trade and investment activities of their companies and enterprises.
