Full text of Chinese premier's interview with Pakistani media (3)

3. In recent years, China-Pakistan political ties have become increasingly close. But their economic relations have not grown fast enough. To strengthen business ties with China has become an important concern of Pakistan. Will you bring any new initiatives to boost our business ties during this visit?

Li: Political and economic relations are like the two wheels of a bicycle, which are mutually reinforcing. The political bond between China and Pakistan is unbreakable and our business ties as a whole have maintained growth momentum. Pakistan is the first South Asian country to sign a free trade agreement and currency swap agreement with China, and it is the largest destination of Chinese investment in South Asia. China is Pakistan's second largest trading partner and fourth largest export market. Steady progress has been made in our cooperation in energy, infrastructure, telecommunications and financial sectors.

But there is great potential to be tapped in China-Pakistan economic cooperation. China takes its trade imbalance with Pakistan seriously and is taking measures to address this issue. Pakistan's export to China last year increased by nearly 50 percent. This has enhanced our confidence. China will step up consultation with Pakistan on second phase tax reduction negotiations under the framework of China-Pakistan Free Trade Area. I have given instruction that a Chinese trade and investment promotion delegation be sent to Pakistan to pursue various cooperation projects. During my visit, I will also talk to Pakistani leaders about the formulation of a long-term plan for boosting bilateral business cooperation. Our two sides should focus on carrying out priority projects in connectivity, energy development and power generation and promoting the building of a China-Pakistan economic corridor.

Both China and Pakistan have a big population and broad market potential. China is fully implementing the strategy of development in China's western region and expanding westward opening, and Pakistan is also in a crucial stage of development. The Chinese government will continue to encourage Chinese companies to invest and do business in Pakistan. We also welcome Pakistan to participate in projects for leapfrog development in Xinjiang. Our two countries should draw on each other's strengths, jointly unlock cooperation potential and bring more tangible benefits to our two peoples.