Lahore, November 05, 2015 (PPI-OT): Head of the 5-member Chinese delegation Chao Ni has said that Chinese investors are keen to invest in Pakistan. Economic Partnership between the businessmen of the two countries would not only help tap huge potential exists in China and Pakistan but would expedite growth.
He was talking to the LCCI President Sheikh Muhammad Arshad and Senior Vice President Almas Hyder here at the Lahore Chamber of Commerce and Industry on Thursday. Members of the Chinese delegation Li Zheng, Zhou Guangyan, Wenhong Zhan, Fan Shengci and LCCI Executive Committee Members also spoke on the occasion.
Chao Ni said that China-Pak Economic corridor is an ample proof of China’s seriousness in economic uplift of Pakistan.
He said that both the Pakistan and China had huge potential to increase the bilateral trade as the existing volume of two-way trade between the two countries is very small when it is compared with the total Chinese business with the world.
He said that incentive package and China-Pak Economic Corridor is enough to make the point that China gives top priority to Pakistan in terms of business and trade.
The LCCI President Sheikh Mohammad Arshad said that China is a sincere friend of Pakistan and always extended best cooperation. He said that China is also a very important partner in Pakistan Economic Development and bilateral trade. The involvement of Chinese enterprises, both in terms of Technical and Financial assistance in several development projects is reflective of our cordial relations based on mutual trust and sincerity.
He said that China is one of the largest trading partners of Pakistan and it is expected that bilateral trade between Pakistan and China will touch the figure of $ 15 billion within the next few years. Although Pakistan’s exports to China have been gradually increasing, the trade has always been in favor of China.
Sheikh Muhammad Arshad said that due to excellent economic policies of China and the hard work of Chinese leadership, China has become a big economic force in the world.
The LCCI President invited the Chinese businessmen to invest in Pakistan in priority sectors including Oil and Gas, Mining, Infrastructure, Power (Coal, Hydel, Gas Based), IT and Telecom, Chemicals (Fertilizer (urea), Glass, PV and Polymers), value added Textile Manufactures, Engineering Goods, Textile Machinery, Electronics, Automotives, Agricultural and Agro based Industry, Pesticides, Cool Chains, Food and Fruit Processing and Packaging, Live Stock and Dairy Farming.
The LCCI Senior Vice President Almas Hyder said Pakistan because of its strategic location could be a more suitable destination for Chinese investments. Pakistan is offering liberal investment policies allowing 100% foreign equity and equal treatment to local and foreign investors. He said Pakistan has a network of Export Processing Zones and industrial estates ready to accommodate Chinese investors especially in Punjab Province.
The LCCI office-bearers said that globalization had provided Chinese investors a golden opportunity to relocate their large scale industry to Pakistan to reap the benefits of its most conducive business policies as compared to other regional countries.
They said that the balance of trade between the two countries is heavily in favour of China, which requires to be turned into a win – win situation for both the countries. Major imports of Pakistan from China include iron, steel products, tyres, tubes, chemical, medical, pharma products, fertilizers, yarn and thread of synthetic fiber, railway vehicles, spare parts hand tools and hardware products etc.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan