Chinese firms briefed about promising investment landscape in Pakistan

BEIJING, Oct 26 (APP): Pakistan Ambassador to China, Moin ul Haque has briefed the Chinese companies about the promising investment landscape in Pakistan and called upon them to take advantage of attractive incentives offered under China Pakistan Economic Corridor (CPEC) framework and make Pakistan their investment and business destination.

“The Chinese investors and businessmen get special attention at the highest level and they are warmly welcomed in Pakistan for business and trade to promote economic cooperation between our two countries,” he said while addressing China-Pakistan Trade and Industrial Cooperation Forum held at Pakistan Embassy.

“Both countries cooperate in almost every field but in recent times, there has been a more focus on cooperation in the fields of trade, investments, industry and agriculture,” he added.

“The ambassador said that Pakistan is China’s largest trading partner and the key source of foreign direct investments. The second phase of the Free Trade Agreement launched in early 2020, has allowed larger access of products to each others’ markets.

He said that the liberalized trade between the two countries was contributing to record numbers of bilateral trade.

Pakistan, he said was the fifth largest populous country in the world and a large market, adding, “We are a young and very talented population which is contributing to the nation-building process as well as a very attractive and skilled labour market”.

He called upon the Chinese companies could take benefit of Pakistan’s geographic location as the country is not only a neighbour of China, but it also has very close links with the neighbouring regions of South Asia, West Asia and Central Asia.

Expressing his pleasure over the participation of a large number of Chinese companies in the forum, he assured them that the concerned departments of the two countries would continue to facilitate the Chinese businessmen and companies to enhance trade and industrial cooperation.

The ambassador appreciated the support extended by UBL for hosting the forum.

Addressing on the occasion, the Chairman, of China Overseas Port Holding, Zhang Baozhong updated the audience about Gwadar Port, Special Economic Zone, Gwadar Airport and other projects being carried out there.

He said that the port offers numerous benefits to foreign and local traders and added, there are no demurrage charges, while there is security and safety of cargo with speedy customs clearance and free storage of container for the three months period.

The chairman urged the Chinese companies and traders to come forward and take advantage of opportunities and invest in special economic zones and other projects.

Speaking on the occasion, the Head of Chancery, Naeem Iqbal Cheema briefed the participants about the facilities offered to the Chinese companies and investors under the CPEC flagship project.

“There are certain advantages of investing in the projects under CPEC compared to other projects.

There is a very strong leadership support and the projects under this framework get easy financing and other facilities”, he added.

Commercial Counselor, Ghulam Qadar in his presentation threw light on the incentives as well as facilities being offered under the CPEC the Chinese investors and traders in Pakistan.

Chief Representative of United Bank Limited (UBL) in China, Falak Sher Zaman said that his bank was providing services to facilitate the Chinese companies to promote trade and investment between the two countries.

The forum was jointly hosted by the Embassy of Pakistan, United Bank Limited (UBL), Beijing Innovation Alliance (BJIA) and the Economic and Commercial Counselors Alliance in China.