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Global economic power shifting towards Asia led by China: Haroon Agar

Karachi, March 05, 2013 (PPI-OT): “The Global economic power is shifting towards Asia led by China and Pakistan gives much importance to China both in economic and political terms. Now Pakistan and China had entered into the second phase of Free Trade Agreement which was signed in 2006.

There is a need from both sides to take maximum advantage of FTA. Opportunities of joint ventures exist in textile, agro farming, food processing, pharmaceuticals, engineering goods etc. There is enormous potential in energy sector and Chinese companies should come forward and invest in this sector. China can also help Pakistan in developing and modernizing SMEs sector.

More than 11,000 Chinese engineers, technicians and workers are rendering their valuable services in progress and development of Pakistan. Chinese investment in Pakistan increased many fold in key sectors including port development, roads, railways, mobile telephones communication technology, hydro and thermal power, mining, electronics, and nuclear energy.”,

This was stated by Muhammad Haroon Agar, President, Karachi Chamber of Commerce & Industry (KCCI) during visit of Pakistan’s Consul General designate to Guangzhou China Babar Amin. President KCCI stated China and Pakistan also share close military relations with China supporting a range of modern armaments to the Pakistan defence forces.

Pak- China military cooperation has deepened with joint projects producing armaments ranging from fighter jets to guided missile frigates. Chinese cooperation with Pakistan reached high points with substantial investments from China in Pakistani infra structural expansion, including the noted projects in the Pakistan deep water port in Gawadar.

Pakistan’s major imports from China are machinery, chemicals, garments and other textile products, construction material lie tiles, sanitary wares and crockery. Trends of trade are very positive as volume of bilateral trade has increased exponentially during the last seven years. Pakistan enjoys huge export potential to China due to advantages in agriculture, minerals, chemical, textile and leather products.

Besides Pakistan has comparative advantage of oil seeds, fruits, base metals, plastic goods and perfumery etc. A large number of Chinese companies are working in Pakistan in oil and gas, IT and telecom, power generation, engineering, automobiles, infrastructure and mining sector. Haroon Agar was of the view that the Ambassadors and Consul Generals abroad are the eyes and ears of Pakistan.

Their aggressive efforts to promote Pakistan and marketing of Pakistani products is imperative. He also asserted upon the need of essential role of Commercial offices in resolution of trade disputes. He also asked the Consul General to invite Chinese companies to participate in the KCCI’s My-Karachi Exhibition scheduled to be organized in July 2013.

Pakistan’s Consul General designate to Guangzhou China recognized the vibrant role of Karachi Chamber of Commerce & Industry for promotion of commercial and industrial activities and desired to work closely with President KCCI. He stressed upon the need to further explore bilateral trade prospects; with frequent exchange of delegations and data-based information.

He agreed that extensive marketing of Pakistani products is crucial. He said that every Chinese province hold unique dynamics and business trends. He assured that the Consulate General of Pakistan in Guangzhou will extend best facilitation to the business community in terms of trade. He observed that leading companies of Pakistan don’t frequently participate in the exhibitions while the participation of small businessmen is exhibition is comparatively on wider scale.

He was of the view that the big brands of Pakistan should exhibit in international exhibitions of China. He stated that presently there was not trade officer at the Consulate, the Chief TDAP has approved to hire one local trade representative to look after the commercial affairs.

Majyd Aziz, former President KCCI, Shamim Firpo, Senior Vice President KCCI, Nasir Mehmood, Vice President and Managing Committee Members of KCCI also participated in the meeting.

For more information, contact:
M. Shafiq Baig
Public Relations Officer
Karachi Chamber of Commerce & Industry (KCCI)
Aiwan-e-Tijarat Road,
Shahrah-e-Liaquat, Karachi-74000
Tel: +9221 9921 8001 -09
Fax: +9221 9921 8010
Email: pro@kcci.com.pk, pro2@kcci.com.pk
Website: http://www.kcci.com.pk/

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