Pakistan, China agree to enhance trade and economic ties

A Board of Investment (BoI) mission on Friday held a meeting with the Chinese consul general in Karachi, Li Bijian, to review the progress on enhancing collaboration between Pakistani and Chinese enterprises.

In the ambit of the recently signed ‘Framework Agreement on Industrial Cooperation’ provided by the China-Pakistan Economic Corridor (CPEC) initiative, the two countries have now sped up the process of creating a conducive environment for business-to-business, joint ventures, and match-making to bridge the gap between private sectors.

For its part, the BoI has circulated a list of thirty Chinese projects that are ready for investment in Pakistan to the major chambers of commerce and industry in the country. As a follow-up, BoI officials have also held meetings with the Chinese and Pakistani associations in Karachi.

BoI Executive Director General Kashishur Rehman proposed building a government-to-government special economic zone (SEZ) between Pakistan and China in order to facilitate the influx of Chinese industries relocating to Pakistan.

The meeting resolved that with the support of BoI, Chinese missions in Pakistan and PCBIF, meaningful match-making and joint ventures could be concluded between the private sectors of the two countries.

Mr Rehman informed the Chinese envoy about the commitments made by the National Development and Reforms Commission of China to engage provincial and local governments of China in promoting industrial cooperation at all levels. He said BoI has already simplified the work visa process and visit visas and encouraged Chinese investors and enterprises to apply for work visas.