Trade relations: Shandong chamber keen to enhance ties with KCCI

Chinese delegation expresses interest in frequent b2b meetings to strengthen trade ties

KARACHI: The Shandong Chamber wants to enhance collaboration with the Karachi Chamber of Commerce and Industry (KCCI) to promote business and improve trade ties between the two countries, said Shandong Chamber of Commerce China Executive Vice President and Secretary General Wangxuemin.

Leading a high-level, 13-member Chinese delegation during its visit to the KCCI office, Wangxuemin said the Chinese would like to have more business-to-business meetings on a regular basis to further improve trade ties between the two countries.

The delegation comprised of businessmen from numerous sectors including footwear, jewellery, luggage, auto parts, chemicals, furniture, electrical appliances, raw material, household goods, infrastructure construction and railway track tools.

“Karachi is a city that contributes over 65% revenue to the national exchequer and offers profitable investment opportunities to the Chinese business community,” said the KCCI President Younus Muhammad Bashir

He was of the view that with improved law and order situation and completion of China-Pakistan Economic Corridor (CPEC) and Gwadar Port, the region is likely to attract substantial amount of foreign investment. “The Chinese investors can benefit from the situation and invest in joint ventures, particularly in Karachi,” he said.

Commenting on Pakistan-China trade and economic relations, Bashir noted that during 2015-16, Pakistan’s exports to China stood at $1.9 billion whereas the imports were recorded at $8.127 billion, indicating an overall trade volume of more than $10 billion which needed to be enhanced through collective efforts.

Bashir said that Gwadar had strategic importance for China as about 60% of its crude supply came from Gulf countries that were in close proximity to Gwadar.

“Besides the $46 billion CPEC projects, the up-gradation of Karakoram Highway, Thar Coal Mining, up-gradation of Pakistan Railways and power generation projects; both nuclear and non-nuclear, are key projects reflecting the expanded economic cooperation,” he added.

Published in The Express Tribune, August 4^th, 2016.

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