Forum for attracting Chinese investment in SEZs held in Beijing

BEIJING: The Embassy of Pakistan in Beijing on Monday organized an investment forum and promotion conference aimed at providing a platform to the Chinese enterprises to collaborate with Pakistani companies to take advantage of investment opportunities being offered in the special economic zones in Pakistan.

The China – Pakistan pump and valve industry cross-border investment forum and China (Wenzhou) international pump and valve fair promotion conference was co-sponsored by China Council for the Promotion of International Trade Beijing Sub-council (CCPIT Beijing), China Council for the Promotion of International Trade Wenzhou Municipal Committee (CCPIT Wenzhou) and National Bank of Pakistan Representative Office Beijing.

Speaking on the occasion, Deputy Head of Mission Ahmed Farooq briefed the audience about all weather strategic cooperative partnership between Pakistan and China as well as growing trade and economic relations between the two countries.

He informed that China-Pakistan Economic Corridor (CPEC), a flagship project of Belt and Road Initiative, is progressing well and has entered the industrialization phase.

He said this event has been organized as part of celebrations of the 70th anniversary of the establishment of diplomatic relations between Pakistan and China.

Ahmed Farooq also expressed the confidence that today’s event would promote business to business cooperation between the two countries and investment in the area of industrialization in Pakistan.

In his address, Commercial Counselor, Badar Uz Zaman said, Pakistan is a country of great potential and growth and with each passing day, its economy is getting better. Business, industrial sectors are thriving and booming.

He said, with the development of the chemical industrial sector, the share of the manufacturing sector significantly increases and contributes to the overall GDP growth.

Most of the raw materials and intermediates for dyes and pigments, plastic and fertilizers are being imported. No appreciable progress is possible in the chemical sector without indigenous production of petrochemicals and other chemicals, he added.

He said, there are huge investment opportunities in different sectors particularly chemical and petrochemical industry in Pakistan.

The Pakistan government welcomes overseas countries, especially Chinese investors to invest and do business in Pakistan and hopes that Chinese companies could choose Pakistan as their investment destination, he added.

He said the forum would lay a solid foundation for the next construction of the pump and valve industry in both countries.

Vice President of CCPIT Beijing, Zhu Jialiang and Party Member and Consultant II of CCPIT Wenzhou also spoke on occasion.

Export Manager of Jinggong Valve Group Muhammad Abbas briefed about the Wenzhou pump and valve enterprises and Luna of China Road and Bridge Corporation updated the audience about the development of Rashakai Special Economic Zone.

The Chief Representative of the National Bank of Pakistan (NBP) Beijing threw light on the investment and financial market in Pakistan as well as the service being offered by his bank to the Chinese investors.

Secretary General of ECCAC Ms Sun Lili introduced the ECCAC and shared development opportunities of industrial cooperation between China and overseas industry.

Later, Badar Uz Zaman said that the basic objective of this forum is to provide a platform to the Chinese and Pakistani enterprises to collaborate with each other.

Through this platform, we have told the audience about investment opportunities that Pakistan is providing in the form of special economic zones and in the form of investment friendly environment and policies, he added.

The commercial counsellor said that since the participating organizations have thousands of members, telling them about Pakistan will definitely help spread the message to people in China.

Sheikh Muhammad Shariq termed the event a big success and said that Wenzhou has already good relations with Pakistan. As Pakistan has moved towards industrialization and more and more economic activities are generated there, the demand for these accessories is going to increase.

He said, this event would help Chinese and Pakistani companies who are dealing in the same business cooperate with each other.

About NBP’s sponsorship, he said, all over the world, the banks and financial institutions provide help and support to industries to develop and grow.

Our bank has already set up three desks in Islamabad, Lahore and Karachi to facilitate Chinese companies which are doing business in Pakistan. Similarly, we are going to support companies in Wenzhou to invest and set up business in Pakistan, he added.

At the end of the event, China (Wenzhou) International Pump and Valve Fair signed separate cooperation agreements with Water Supply and Drainage Affiliate of China Construction Metal Structure Association (CCMSA), Tianjin Valve Pump Chamber of Commerce and Mengcun Hui Autonomous County Youth Entrepreneur Association.

The forum was attended by Ambassador of Burkina Faso, Adama Compaore besides representatives of around 120 companies and over 20 associations in China including representatives from Embassy of Pakistan Beijing, representatives from embassies related with RCEP and One Belt One Road, representatives from Wenzhou CCPIT, enterprise representatives from relevant countries and districts, representatives from domestic industry chamber of commerce and association, enterprise representatives from well-known Wenzhou and other domestic pump and valve enterprises and media.