Chinese body signs MoU for promotion of trade and investment

Plans to exchange market information and explore new possibilities

ISLAMABAD: China Council for the Promotion of International Trade (CCPIT), a national foreign trade and investment promotion agency of China, has signed a memorandum of understanding (MoU) with the Islamabad Chamber of Commerce and Industry (ICCI) to accelerate efforts for promotion of bilateral trade and investment between the two countries.

By signing the agreement, both countries agreed to establish strong communication and make utmost efforts to promote bilateral trade and economic cooperation.

They further decided to exchange market information on a regular basis to explore new possibilities. Both sides displayed keen interest to assist visits of trade delegations and transfer of technology.

Highlighting the Chinese organisation, CCPIT Shenyang Sub-Council President Zhao Kai said that the entity has about 150,000 members in China and it would work with ICCI to promote connectivity between the enterprises of both countries

"CCPIT, along with a delegation of 35 enterprises of Shenyang City of China, recently participated in an expo held at Karachi and now it is planning an expo in Islamabad next year for which cooperation of ICCI is direly required," he stressed.

The CCPIT president also invited a delegation of Pakistani enterprises to visit Shenyang in a bid to explore opportunities of business collaboration and investment.

Addressing the delegation, ICCI President Ahmed Hassan Moughal reiterated that the China-Pakistan Economic Corridor (CPEC) has given birth to immense opportunities for business and investment in Pakistan.

"In the next phase of industrial cooperation under CPEC, many special economic zones (SEZs) will be established in the country," he pointed out and urged Chinese enterprises to transfer technology and set up joint ventures in the SEZs. He expressed hope that the MoU would further boost business relations between Pakistan and China.

Former MNA and member of PTI Central Committee Ejaz Chaudhry emphasised that the government was very open to investment and Chinese companies should consider setting up business partnerships in Pakistan.

Published in The Express Tribune, December 18^th, 2018.

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