ISLAMABAD – ICCI President Sardar Yasir Ilyas Khan, who chaired a delegation of the Islamabad Chamber of Commerce and Industry (ICCI), visited the Embassy of the People’s Republic of China in Islamabad and had a meeting with Minister Undersecretary (Economy and Trade) Xie Guoxiang. ), To discuss the possibilities of further improving bilateral trade and investment relations between Pakistan and China. The delegation included Fatma Azim, senior vice president, and Abdul Rehman Khan, vice president of ICCI. He Hua Shiang, Gong Dahui and others were also present at the event.
Sardar Yasir İlyas Khan said that Pakistan and China have strategic friendship that can be further strengthened by developing strong commercial and economic relations between the two countries. He said that Pakistan is a growing market for commercial activities and it is the right time for Chinese companies to transfer technology to Pakistan and establish joint ventures and industrial units in our country.
This way, Chinese investors were able to export their products to many markets around the world, including South Asia, the Middle East, Europe and Africa. He said China is the world’s second largest economy, with trillions of dollars of annual trade, but Pakistan’s exports to China are about $ 2 billion. He said that Pakistan’s exports to China could increase to $ 23 billion only if China imports raw materials and intermediate goods from Pakistan to gain a share of one percent in the supply chain.
Sardar Yasir Ilyas Khan said that Pakistan’s automobile, IT and telecom, industry, agriculture and construction sectors have enormous potential for Chinese investors. He emphasized that Pakistan’s SEZs have offered tax holidays for years, zero taxes on machinery and plant imports, and a 4-year payment plan to investors, so Chinese investors should explore joint ventures and invest in these SEZs to earn lucrative returns.
He said that China is very advanced in the agricultural sector and that it should help Pakistan increase its yield per acre by sharing its agricultural machinery and technology with our country. He said the embassy should arrange its visa policy for Pakistani business community so that they can easily visit China to explore their business cooperation with their Chinese counterparts. He said that ICCI is working with the government for the Single Window facility for investors and assured that ICCI will completely facilitate Chinese investors to connect with the right partners in Pakistan.
In his speech, Xie Guoxiang, Minister of Undersecretary (Economic and Commercial) of the Embassy of the People’s Republic of China, said that the 2nd phase of CPEC has started cooperation between China and Pakistan in the fields of industrial and agricultural sectors, health and digital technology. economy. He emphasized that Pakistan should focus on developing its infrastructure that will attract more Chinese investors to the Pakistani market.
China’s Xinjiang Uyghur Autonomous Region reported that the Ministry of Commerce plans to hold an online conference on January 22, 2021, to promote trade cooperation between China and Pakistan that will focus on the apparel and textile industry, textile machinery and equipment, agricultural products and others. He asked the Pakistani business community to participate in this to explore commercial cooperation with their Chinese counterparts. Both sides discussed signing a memorandum of understanding of cooperation between the ICCI and the China Capital Chamber of Commerce and Industry to improve trade links between the two countries.