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Chinese traders want to explore more areas for investment

ISLAMABAD: Chinese businessmen have expressed the desire for exploring more areas of collaboration by China and Pakistan for investment and trade.

The desire came during a meeting between a 10-member Chinese businessmen delegation and acting secretary, Board of Investment, Ahmed Shamsul Huda, here on Saturday.

The BoI secretary briefed the Chinese businessmen from different state enterprises, led by Vice-Chairman of China Council for the Promotion of International Trade, Ma Yue, about the liberal investment opportunities and policies.

Ma Yue said that the Chinese Council (CCPIT) was a body authorised by the Chinese government to explore possibilities of Chinese investment abroad and vice versa.

He described the existing mutual investment between China and Pakistan as far from enough, and stressed the need for increased economic collaboration between the two countries.

Ahmed gave a detailed presentation to the Chinese delegation about the liberal investment policy, various incentives and facilities offered to investors in Pakistan.

He also explained in brief the viable investable projects for investment in Pakistan in various sectors, including ports and shipping, energy, infrastructure, electronics, education, health and petroleum.

A set of summary of sectoral studies, done by BoI in the field of electronics and information technology, hydropower, environmental and infrastructure, telecommunications, pulp, paper and packing industry, fishing, fish processing and fish farming was also provided to the leader of the Chinese delegation.

The BoI secretary informed the delegation that with the introduction of economic reforms package by the present government there were signs of improvement in the economy.

The stable dollar-rupee parity, upward trend in share market and 13.5 percent increase in foreign investment in January this year were the indicators of confidence of investors in Pakistan economy, he added.

JOINT COUNCIL MEETING

The Vice-Chairman of China Council for Promotion of International Trade (CCPIT), Ma Yue, said that China and Pakistan enjoy excellent political relations and the two countries have great potential for economic and commercial cooperation.

He expressed these views during a meeting with Foreign Secretary Inamul Haq on Saturday.

Ma Yue is leading a 14-member delegation to Pakistan to attend the first meeting of the Pakistan-China Joint Business Council being held in Karachi on April 3.

The meeting is an important event in the context of Pakistan's endeavours to enrich and strengthen Pak-China economic and commercial relations.

He said at the first Joint Business Council meeting the two sides would exchange ideas on promotion of trade and economic relations.

Briefing the delegation on the economic policies of the government, the foreign secretary said govt policies are showing positive results. He said the Karachi Stock Exchange has rebounded and Pakistan's credit rating has improved.

Pakistan is keen to attract Chinese investment and enter into joint ventures with China in various fields, he said.

The foreign secretary also suggested that the Karakoram Highway could be utilised for Chinese exports to third countries through the Karachi and Gwadar ports. APP