Chinese investors find investment avenues

Kashgar Chamber team explores possibilities of business collaboration

ISLAMABAD: Chinese investors see huge investment opportunities in Pakistan in a variety of sectors and are optimistic about collaborating with local businessmen.

This was said by Kashgar Economic Information Bureau Director General Huang Li Dong, while leading a delegation of the Kashgar Chamber of Commerce and Industry, China on a visit to the Islamabad Chamber of Commerce and Industry (ICCI) to explore opportunities of business collaboration.

The delegation represented various sectors including automobile, steel, industrial machinery and agriculture development.

Huang said the purpose of their visit was to explore Pakistan's market and after visiting Karachi, Lahore and Islamabad they found a lot of investment opportunities.

He emphasised the importance of regular interaction between private sectors of both countries in order to exploit all untapped areas for mutual cooperation.

"The Silk Road is a historic trade route that China has now revived by undertaking infrastructure projects under the One-Belt One-Road initiative," he said, adding it would have great beneficial economic impact on Pakistan and other relevant countries.

Both the chambers agreed to cooperate in facilitating regular exchange of trade delegations to explore new avenues of commerce.

ICCI President Khalid Iqbal Malik said China was Pakistan's largest trading partner and bilateral trade of around $19 billion between the two countries was quite encouraging.

He said the China-Pakistan Economic Corridor (CPEC) would connect Gwadar Port with Kashgar through a network of roads, railways and oil and gas pipelines, making Balochistan and Kashgar hubs of regional trade and economic activities.

"CPEC will also provide China easy access to the Middle East, Africa and the West," Malik added.

Briefing the delegation about investment avenues in various sectors of Pakistan, Malik said energy, infrastructure development, construction and oil and gas exploration, among other sectors, offered a great potential for investment.

The ICCI chief urged the Chinese investors to step up efforts by exploring possibilities of joint ventures and setting up industrial units in Pakistan.

He suggested that direct flights should be started between Islamabad and Kashgar, which would help in improving trade relations.

Published in The Express Tribune, October 15^th, 2016.

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