Partnership will help both Pakistan and China: LCCI

Chamber president emphasises removal of trade imbalance to create ‘win-win’ situation

LAHORE: Partnership between Pakistani and Chinese entrepreneurs can help both countries prevail in the global economic field, Lahore Chamber of Commerce and Industry (LCCI) President Abdul Basit said at a high-level dialogue arranged by the Federation of Chengdu Industry and Commerce in China.

Punjab Board of Investment and Trade CEO Jahanzeb Burana, Pakistan Commercial Counselor Haroon Masood and Federation of Chengdu Industry and Trade VP He Ying also spoke on the occasion.

Basit said that China is a major exporter to Pakistan which is a major reason for trade imbalance between the two countries. Measures should be taken to help Pakistani products excel in the Chinese market.

The LCCI president said that Chinese investments in power, textile, pharmaceutical, dairy, livestock and agriculture sectors will bring the two countries closer besides attracting much-needed foreign direct investment (FDI) to Pakistan.

He said that Pakistan is looking for Chinese businessmen to make joint efforts aimed at boosting bilateral trade and economic relations.

“In the context of ongoing projects of China-Pakistan Economic Corridor (CPEC), the need and importance of private to private contacts has mounted. In this scenario, the role of chambers of commerce has widened,” he added.

He said that stats of two-way trade are bound to improve in a decade or so because once the CPEC projects become fully functional, a win-win situation will take place for both the countries.  “In the meantime, we need to interact on regular basis for exploring avenues for trade expansion and opportunities for investments,” he said.

Published in The Express Tribune, September 17^th, 2017.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.