Boosting bilateral trade: Pak-Chinese entrepreneurs hold B2B meetings at LCCI
LAHORE: A 20-member Chinese delegation on Friday held business-to-business (B2B) meetings with their Pakistani counterparts at the Lahore Chamber of Commerce and Industry (LLCI) and showed keen interest to start joint ventures in the sectors of clothing, food, casting production, machinery and power tools.
The meeting between the Chinese and Pakistani entrepreneurs were part of the efforts to take mutual trade and economic relations between the two countries to the new heights, said LCCI Senior Vice President Almas Hyder while addressing the Chinese delegation. He said that China-Pakistan Economic Corridor (CPEC) has fair enough potential to change the economic fate of Pakistan, adding that the expected economic benefits of this project are hard to imagine as only time will eventually unfold how much Pakistan is going to gain from it.
Almas Hyder said that repeated visits of the Chinese trade delegations are not only a proof of cordial relations between the two countries but also show the keenness of Chinese businessmen in strengthening working relations with their Pakistani counterparts. He said that LCCI believes in promotion of regional trade and no other country could be better than China for Pakistani businessmen in this regard.
The LCCI SVP said that China is one of the largest trading partners of Pakistan and it is expected that bilateral trade between the two countries 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 favour of China, he added.
Hyder said due to excellent economic policies of China and the hard work of Chinese leadership, China has become a big economic force in the world. He 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 (fertiliser, glass, PV, polymers), value added textile manufactures, engineering goods, textile machinery, electronics, automotives, agricultural and agro based industry, pesticides, cool chains, food and fruit processing, live stock and dairy farming.
LCCI Vice President Nasir Saeed on the occasion 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. Pakistan has a network of Export Processing Zones and industrial estates ready to accommodate Chinese investors especially in Punjab,” he added.
Saeed said that globalisation 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. Earlier, members of Chinese delegation said that Chinese businessmen are ready to join hands with Pakistani counterparts in all sectors of economy.
They said that the Chinese business community values Pakistan highly and therefore, they were always ready to put their money in new ventures in Pakistan.