President Asif Ali Zardari has called for greater Chinese investment in infrastructure projects particularly in mega energy projects and in this context proposed the setting up of Energy Fund for energy related mega Projects including the hydro-power projects. He also called upon the Joint Energy Working Group between the two countries that held its second meeting last month to find new ways in this regard.

The President said this during his bilateral meeting with President Hu Jintao on the sidelines of the SCO summit in Beijing today during which the two leaders discussed a host of issues ranging from the whole gamut of bilateral relations to the recent developments taking place at the regional and international level.

Spokesperson to the President Senator Farhatullah Babar said that the President who arrived in Beijing on Tuesday on his ninth visit to China participated earlier today in the SCO summit and held bilateral meetings with Presidents of Iran, Tajikistan and Afghanistan during the last two days on the side lines of the summit and sought Chinese support for Pakistan's energy problem besides articulating Pakistan's position on various issues of interest to the region and the world.

He quoted the President as saying that Pakistan's ultimate goal is closer economic integration with China and called for Chinese investment in trans-regional economic projects particularly in the energy sector between Pakistan, Afghanistan and China and for raising the bilateral trade target of US$15 billion by 2015.

He said that the bilateral trade between the two countries was on an upward trajectory as in 2011 it increased to US$10.6 billion from US$ 8.6 billion in 2010 showing an increase of 22%.

The President said that the opening of ICBC's branches in Pakistan, the Currency Swap Agreement last December and the launching of PAK-SAT 1R Project in August 2011 were significant milestones in our bilateral relations and called for stepping up the momentum generated by these landmark developments assuring also the Chinese leader of Pakistan's commitment to ensure safety and security of Chinese personnel working in Pakistan.

Maintaining strong relations with China was the cornerstone of Pakistan's foreign policy, the President said adding that all political parties, state institutions and the people of Pakistan consider China as a trusted friend and strong strategic ally.

He said that the government was determined to take the relations in our political, defence, security and economic spheres to 'new heights' and his ninth visit to China was a manifestation of this policy. Pakistan People’s Party’s strong ties with the Communist Party of China date back to the1960s under the leadership of Shaheed Zulfiqar Ali Bhutto, he said.

The President appreciated China's help in overcoming the Attabad lake problem in Gilgit -Baltistan. He said that the widening and up-gradation of Karakoram Highway as well as realignment of the segment impacted by the Attabad Lake will further facilitate and enhance trade and people-to-people contacts.

He also welcomed China's support for mega hydro projects and also for connectivity projects in Pakistan.

The President also thanked the Chinese President for continued support to Pakistan's sovereignty, independence and territorial integrity and in its efforts to fight international terrorism.

He welcomed China's principled stand in support of Pakistan in the aftermath of the killing of Osama bin Laden and for China's recognition of Pakistan's anti-terror efforts.

We are also grateful for China's support in the aftermath of the NATO attacks on Pakistan's border posts last November, he said.

He said Pakistan has worked closely in UN Security Council Reform and

Fissile Material Cut-off Treaty (FMCT) and appreciated China's understanding of Pakistan's strategic imperatives in this regard and support for its position.

President Asif Ali Zardari said that Pakistan strongly opposed any attempts to undermine China's sovereignty and territorial integrity and reiterated Pakistan's full support to China's core issues including its position on Taiwan, Tibet and Xinjiang. The President said that Pakistan condemned the ETIM and assured China of its fullest cooperation in countering it.

Farhatullah Babar said that the regional situation also came under discussion during the meeting.

In this context President Zardari mentioned the initiatives taken to revive the dialogue process with India and put in place CBMs like facilitating cross-LOC trade and travel facilitation and said that his visit to India that helped break the ice. We will continue to make determined efforts to keep the resumed dialogue process with India going in right direction, he said.

He said that Pakistan was keen on peace and stability in Afghanistan and fully supported an Afghan led national reconciliation process in that country. He said that the initiation of the China-Pakistan-Afghanistan tripartite dialogue is an important step and said that Pakistan will continue to work closely with China for peace, stability and economic reconstruction in Afghanistan.

The President said that Pakistan was trying to re-negotiate parameters of relationship with the US in the light of Parliamentary recommendations. He said that Pakistan expected respect for its sovereignty and appreciation of its position on the red lines for participation in war against terrorism. The President said that Pakistan will strive to maintain engagement with the US to repair the relationship while upholding sovereignty and national dignity.

The Spokesperson said that President Zardari also reiterated Pakistan’s case for full membership of SCO.

The President said that Pakistan was most suitably positioned in promoting regional trade and economic cooperation as envisaged in the Organization's charter.

Pakistan provides the natural link between the SCO states to connect the Eurasian heartland and the Arabian Sea and South Asia for trade and energy transactions both intra regionally and inter regional. He said that Pakistan has been regularly participating in its summits in 2009, 2010 and 2011 at the highest level and the Prime Minister participated in the meetings of SCO Council of Heads of Government during all these years.

President Zardari welcomed the finalization of rules for admitting new members by the SCO and expressed the hope that this will pave the way for Pakistan's full membership of the Organization.

Pakistan, he said, was keen on engaging with the financial and non-governmental sectors of SCO member states, particularly in the banking and business sectors and also in the sectors of transport, energy, trade and development. He also recalled that Pakistan was the first SCO member state to apply for full membership.

Soon after the meeting Pakistan and China signed a ten year MoU for cooperation in Science, Technology and Space sciences. The MoU signed by Ambassador Masood Khan and China's Administrator for Science and Technology Organization for their respective countries was also witnessed by the two Presidents, the Spokesperson said.

Earlier on arrival at the Great Hall of the Peoples, the President was received by the Chinese President and accompanied to the dais where the national anthems of the two countries were played before President Zardari was presented a ceremonial guard of honour by the contingents of Chinese Army, Navy and Air Force.

President Zardari will meet tonight the Chinese Vice President in yet another bilateral meeting followed by dinner hosted by the vice President.