LAHORE, Dec.14 (inp) - In order to deepen trade and economic ties between Punjab and China's Shandong province, a web seminar was held at the Punjab Board of Investment and Trade (PBIT).

The seminar was attended by more than 400 entrepreneurs in Shandong who were on live conversation with the key management of PBIT.

In order to introduce the potential that exists between Shandong and Punjab, a documentary was shown to the participants.

According to Gwadar pro net, the documentary highlighted key economic events that Punjab has achieved in past years and laid a strong framework for future investments.

While speaking at the occasion, Mr. Muhammad Sohail Qadri, Director of PBIT stated that Punjab accounted for 55% of Pakistan's population, contributed almost 60% to the national GDP and had 68,000 industrial units.

Punjab and Shandong have been enjoying sister province relations and it is worthy to share that eighty percent of Chinese investment in Punjab is from the Shandong province.

Shandong is hub of agriculture, auto manufacturing, chemicals, light engineering and pharmaceuticals industries and many potential investors have shown interest in investing in the flourishing market of Punjab.

It may be stressed that Punjab province is the best destination for investors and has numerous opportunities in textile, agriculture, auto manufacturing, light engineering information technology, real estate, health, energy and tourism.

Agriculture remains the backbone of Pakistan. There was huge need for development of agriculture parks and introduction of new methods and techniques for encouraging crops having potential of import substitution especially oil seeds, cotton and other basic kitchen items to take the priority.

The leadership of PBIT emphasized that in recent years, 45% of the Pakistan's total automobile industry had been established in Punjab creating several jobs for the local people and auto manufacturing hub in Faisalabad city.

With around $1.4 billion recent investments, the top industries established in Punjab included Coca Cola, Pepsi, Renault, Foton, Deli Glass, Hayat Kemia, etc.

The web seminar provided a unique opportunity for both Chinese and Pakistani audience to share and exchange mutually beneficial ideas to promote deeper economic ties between both regions.

From Chinese side it was attended mainly by Mr. Jing Shikuan, Deputy Director General, Department of Industry and Information Technology of Shandong Province; Mr. Zhao Ming, Division Chief of Equipment, Department of Industry and Information Technology of Shandong Province; Mr. Zhang Yitian, Director of A.I. Research Office, National Industrial Information Security Development Center; and Zhao Ji, Director of Engineer Department, National CIMS-ERC Tsinghua University.

Inp/javed