CPEC: Pakistan Govt.Takes Proactive Measures, Finalizes Strategy to Facilitate Chinese Enterprises

• Pakistan Takes Proactive Measures, Finalizes Strategy to Facilitate Chinese Enterprises
• PM Pakistan directs relevant authorities to extend full facilitation to Pakistani companies for collaboration with Chinese companies
• Shifting of Chinese industries to Pakistan will improve economy, create new employment opportunities and increase exports: PM.
• Pakistan to invite Chinese companies to invest in seven major sectors
• Pakistan commerce ministry finalizes strategy for joint ventures between Chinese and Pakistani companies
• Pakistan’s intended to open new avenues of bilateral trade with China in various fields

By: Muhammad Arif, Editor NSN.Asia

Islamabad: A high-level meeting on Saturday in Islamabad has finalized a strategy for joint ventures between Chinese and Pakistani companies, marking a significant step forward in boosting bilateral trade relations.

To address and strategize on Pakistan-China trade issues, Federal ministers Abdul Aleem Khan and Jam Kamal chaired the meeting in Islamabad.

After the meeting, Abdul Aleem Khan announced that Pakistan would invite Chinese companies to invest in seven major sectors, emphasizing that investment opportunities in Pakistan are more attractive than those in Bangladesh, India, and Vietnam.

Also, the minister directed the Board of Investment to prepare a comprehensive report for the prime minister, and to take the ministries of foreign affairs, commerce, industry and production, food security, and maritime on board for boosting trade ties with China.

“Cooperation with Chinese companies has the potential to increase trade by $1 billion,” said Aleem Khan said, adding that Pakistan’s intended to open new avenues of bilateral trade with China in various fields.

On industrialization in Pakistan, he also suggested planting new industries in areas where the maximum supply of electricity is possible, ensuring a conducive environment for industrial growth.

In his remarks, Abdul Aleem Khan instructed the officials of the Board of Investment to engage immediately with investment companies, and involve the Pakistani embassy in Beijing to facilitate Chinese investors.

Federal Minister of Commerce, Jam Kamal Khan had a detailed discussion regarding Chinese companies and trade issues. He directed the Ministry of Commerce to provide full cooperation, and work jointly with the Board of Investment to enhance trade relations with China.

Pakistan’s current government is struggling to attract Chinese enterprises for investment in the agriculture and mining sectors.

For modernization of agriculture Pakistan PM has announced to send 1,000 agricultural graduates to China for higher education and training.  The training will cover specific skills in agriculture and food security,

In this regard, Federal Minister for Industries and Production and National Food Security, Rana Tanveer Hussain  said while talking to the Minister Counselor, Embassy of People’s Republic of China, Mr. XU Hangtian Zhuheng Tian, on Friday.

The purpose of their meeting was to finalize the procedure for sending Pakistani agricultural graduates to China. The said scholarship was announced during the recent visit of the Prime Minister of Pakistan to China.

Since the last visit to China in July, Prime Minister Shehbaz Sharif seems more determined, giving priority to implementation of CPEC 2:0 related projects.

PM is constantly holding meeting with relevant authorities to review progress over agreements signed with Chinese counterparts during his visit to China.

Chairing a meeting on Saturday, Prime Minister said no delay will be tolerated in the implementation of MoUs on cooperation with China.

“China is a longtime friend of Pakistan that has helped it in every difficult time and the Chinese leadership is determined to further increase investment in Pakistan*, PM stressed.

During the meeting, a comprehensive road map was presented for transfer of Chinese industries in Pakistan under which partnerships will be signed with Chinese companies for shifting China’s textile, plastic, leather medical and surgical equipment industries to Pakistan.

Pakistan’s Board of Investment presented progress report regarding interest shown by seventy-eight Pakistani companies to cooperate with Chinese companies for this purpose.

The Prime Minister appreciated the steps and recommendations of the Board of Investment in this regard.

He directed the relevant authorities to extend full facilitation to Pakistani companies for collaboration with Chinese companies.

Shifting of Chinese industries to Pakistan will improve economy, create new employment opportunities and increase exports, said PM.