Liaoning Hualong Group of China and EMCO Industries of Pakistan have signed a memorandum of understanding (MoU), here at the Lahore Chamber of Commerce & Industry, for joint venture in the sector of High Voltage Engineering and Electrical products in Pakistan in order to facilitate transmission/distribution of electricity.
The MoU was signed in the presence of the LCCI President Abdul Basit, Vice President Muhammad Nasir Hameed Khan, Chairman Liaoning Hualong Group and head of 4-member Chinese delegation Xiao Qiang LIU, Talha Tayyab Butt, Shahrukh Jamal and Ali Hassam Asghar.
First Signer of the MoU 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% 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.
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 $ 15 billions. He said that 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 that it is indeed a healthy sign that there have been frequent visits of Chinese delegations to Pakistan in recent months. He said that through developing private to private contacts, both countries can further strengthen our trade relations. He hoped the state level cooperation between two countries will bring greater fortune to both of us.