Minister Counsellor of Embassy of China invites Pakistani companies to Canton Fair

ISLAMABAD: Minister Counsellor Embassy of China Xie Gouxiang has invited Pakistani companies to attend the Canton Fair and explore prospects for exporting their products around the world.

The development came during an online meeting between the Chinese envoy and Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Yasir Ilyas Khan wherein the latter was briefed about the details of the upcoming 129th China Import and Export Fair, which will be held online between April 15 to 24, due to Covid-19 pandemic.

Gouxiang said the fair was a platform for win-win cooperation between different countries where businessmen from all over the world connected with each other, shared opportunities and pursued common development goals.

To further help companies reduce their production and operation costs, he said that the Canton Fair would continue to waive exhibitors’ fees, and not charge any fee to cross-border e-commerce platforms participating in synchronised activities either.

He said that more participation of Pakistani companies in the Canton Fair would contribute significantly to promote economic and trade ties between China and Pakistan.

Speaking on the occasion, Sardar Yasir Ilyas Khan, thanked Xie Gouxiang for providing comprehensive information about the benefits of attending the online fair and assured that ICCI member companies would attend the event.

He appreciated the signing of the second phase of the China-Pakistan Free Trade Agreement (CPFTA-II) and emphasised that China should provide enhanced market access to Pakistan products as imports from China stood at $12.7 billion and exports from Pakistan to China at $1.85 billion in 2019.

Khan said that Pakistan was establishing many Special Economic Zones (SEZs) under CPEC and Chinese companies should transfer technology to set up JVs with Pakistani counterparts on a 50 per cent equity basis.

“This would help the local industry to upgrade itself and achieve better growth,” he said.

The ICCI president also discussed many other options for promoting bilateral trade and economic relations between Pakistan and China.