Karachi Chamber of Commerce and Industry’s President says that Pakistan and China can collectively do wonders as economic and commercial activities are now focusing towards Asia

Karachi, September 23, 2013 (PPI-OT): Karachi Chamber of Commerce and Industry’s President Muhammad Haroon Agar has expressed that Pakistan and China can collectively do wonders as the economic and commercial activities are now focusing towards Asia. With enhancement of Pak-China mutual economic and cooperation, regional trade and trading with SAARC, ECO and Central Asian blocs can multiply to manifolds.

Exchanging views with the Consul General of China Excellency Mr Ma Yaou during his maiden visit to KCCI, Haroon Agar urged fresh Chinese investment in energy, infrastructure, metro-railways, mass-transit, dams projects which are direly needed to uplift economy and further strengthen Pak-China friendly relationship and economic cooperation.

He said that Chinese cooperation with Pakistan reached high points with substantial investments from China in Pakistani in infra structural expansion, including the noted projects in the Pakistan deep water port in Gawadar and establishment of road and railway link from Gwadar till Kasghar via Karakorum Highway.

He added that in view of Pak China Friendship which is deeper than ocean, greater than Himalaya, growth in mutual cooperation is essential to uplift Pakistan’s weakening economy. He said Karakorum Highway is a remarkable example of mutual cooperation and is the symbol of friendship and understanding.

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

Both countries have Free Trade Agreement and its first phase of five years is completed and negotiations for second phase for the next five years are in process. He urged that FTA should be effectively explored for mutual benefits of both friendly nations.

Public as well private sector Pak-China joint ventures are need of time owing to immense investment potential in Pakistan. President KCCI hoped that current China-Pakistan bilateral trade volume of $12.4 Billion will touch to $15 Billion during next few years.

Consul General of China Excellency Mr Ma Yaou speaking on the occasion stated that China and Pakistan are great time-tested friends. Both countries have been committed to develop closer bilateral relations and further broaden their economic engagement for achieving common development. Opportunities for joint ventures in different sector do exist. So far, China-Pakistani economic and trade cooperation has seen good progress.

Pakistan is a safe haven for Chinese investment. Pakistan has very good potential in different fields. China is also giving new face to its industry with sector diversification. China-Pakistan’s trade and economic cooperation has seen good progress. He said that linkage of Gwader Port with Karakorum Highway will support logistics. Present volume of bilateral trade is $12 Billion; Chinese Exports to Pakistan are $9 Billion while imports from Pakistan are $3 Billion.

He hoped that Pakistan’s exports to China will multiply as China is a huge market to showcase brands of Pakistan. Pakistani textile products are also popular in China. Commenting on direct Air connectivity he stated that presently direct flights to Beijing are available only from Islamabad while direct flights to Guang Zhou and Shanghai will start soon.

He stated that China holds immense tourist attraction and 20 million tourists visit China every year as the country holds an open tourism visa policy. Exchanging views on establishing direct banking channel between two countries he said that ICBC Bank of China has established its branch in Karachi while Pakistani banks can open their branches in China with the permission of concerned authority.

He stated that the Chinese Consulate General accords maximum consideration to business visas for KCCI members and visa is processed on priority. He informed that Chinese investment in Pakistan was mainly in the mines and energy. Saindak project is the flagship of Pakistan-China Friendship in mines. China has also invested in Energy projects of coal and wind in Pakistan.

Former President KCCI Anjum Nisar, Senior Vice President KCCI Shamim Firpo, Vice President Nasir Mehmood and Managing Committee Members also participated in the meeting.

For more information, contact:
M. Shafiq Baig
Public Relations Officer
Karachi Chamber of Commerce and 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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