Chinese companies encouraged to tap into Pakistan’s growing market

Pakistan has a huge market and great potential and the country welcomes the Chinese enterprises to establish themselves in this promising market, a senior diplomat said.

“While opening up the local market, relevant enterprises can leverage Pakistan’s strategic location to expand into broader markets in South Asia, Europe, and America,” said Muhammad Aslam Chaudhary, Economic Minister at the Embassy of Pakistan in Beijing in a meeting with Xiong Meng, executive vice president of China Federation of Industrial Economics (CFIE).

Aslam Chaudhary highlighted the direction of Pakistan’s industrial development and the corresponding preferential policies for Chinese enterprises to invest in Pakistan.

The CFIE has maintained long-term friendly relations with Pakistani industry and commerce organizations. Pakistan’s Bureau of Investment is a founding member of the Belt and Road Industrial and Commercial Alliance initiated by CFIE, according to Xiong.

Based on the strategic orientation of ‘building a new type of think tank, forging industrial synergy and strengthening international cooperation’, CFIE strives to advance China’s industrialization, industrial technological innovation, transformation and upgrading, as per local media.

The CFIE advocates promoting the development of industrial and supply chains from a global perspective. Xiong emphasized the importance of fostering international production capacity cooperation and highlighted the significant potential for collaboration between China and Pakistan in projects, technologies, and markets.

The two parties stated that they will continue to communicate about potential cooperation and are eager to enhance collaboration between CFIE and the Embassy.

This may include trade visits, jointly hosting international conferences, and facilitating Chinese enterprises’ investments in Pakistan, in order to work together for bilateral economic cooperation.