Islamabad, June 08, 2012 (PPI-OT): The business leaders have demanded greater inflow of Chinese investment in South Asia and creation of development fund to inject finance in mutually interested areas, which will have multiplier effect on economic cooperation between the two biggest civilizations of the World.
This ideas was presented during the 3rd South Asia-Sichuan Business Promotion seminar (SASBPS) inaugurated by Mr. Qu Mu Shi Ha, Vice Governor of Sichuan Provincial Government on June 8, 2012 in Chendgu city of China and addressed by Mr. Yu Xiaodong, Deputy Secretary General of CCPIT, Beijing .
Mr. Tariq Sayeed in his speech at inaugural session presented salient features of Investment climate stating that all eight countries had pursued liberal investment policies offering 100% equity, Tax holidays for at least five years, High margin of profits, sovereign guarantee, 0% to 5% duty on import of raw materials and preferred treatment for investment in Export Processing Zones and asked the Chinese entrepreneurs to get maximum benefits through investment, which was more powerful tools to maximize economic cooperation between China and South Asia.
Haji Fazal Kadir Khan, President of FPCCI also spoke on the occasion and stated that Pakistan is proud to play the role of the rotating president country at the China South Asia Business Forum. Mr. Sherani invited Chinese investment in power sector projects, exploration of coal and other mineral resources, nuclear power stations, hydroelectric power, ship-building, high-tech machinery, infrastructure and construction etc; through joint ventures. He thanked the CCPIT for providing stalls and allied logistical facilities for display of Pakistan products at Commodities Fairs in Kunming and Chengdu.
Mr. Annisul Huq, Immediate Past President of SAARC CCI proposed for creation of South Asian Development Fund by China, opening up Chinese banks in all South Asian countries and deepen cooperation in energy and food security, which in return will help reinforce Chinese economic growth.
Mr. Kosala Wikramanayake, Vice President, SAARC CCI from Sri Lanka, Mr. Fazal Kadir Sherani, President, FPCCI, Mr. Suraj Vaidya, President FNCCI, Nepal, Mr. M. A. Momin, Director, FBCCI, Bangladesh, Mr. haroon Rashid, Vice President FPCCI and Executive committee Member of SAARC CCI Pakistan, representatives of FICCI, India, MNCCI, Maldives and CNCCI and other such important organizations presented their view point at the seminar. In addition to ambassador of Bangladesh, Maldives, Nepal, and representatives of diplomatic missions from Afghanistan, and Sri Lanka, Mr. Hasan Habib, Consul General of Pakistan consulate in Chengdu also presented view points to enhance economic cooperation between China and South Asia.
While moderating the session, Iqbal Tabish, Advisor to UNESCAP Business Forum and Secretary General of SAARC CCI said that vast potential for economic cooperation was available, which needed to be tapped through collaborative efforts at both public and private sector level in China and South Asia.
The seminar identified power generation and energy, mining, textiles and garments, infrastructure development, construction of ports and shipping, hydro power and non-conventional energy resources, agro-processing, as areas of mutual cooperation for investment and industry transfer. Seminar was followed by B-2-B meetings amongst South Asian and Chinese businessmen and signing of MoU between CCPIT Sichuan Council and the Federation of Indian Chambers of Commerce and Industry.
For more information, contact:
SAARC Chamber Of Commerce and Industry
Apex Business Organization of SAARC
House No. 397, Street 64, I-8/3, Islamabad- Pakistan
Tel: +9251 486 0611 -3, 831 6023
Fax: +9251 831 6024