Says more cooperation between private sectors of two sides will lower manufacturing cost. PHOTO: FILE
RAWALPINDI: The Chinese government has stressed the need for enhancing economic and commercial ties with Pakistan and the China-Pakistan Economic Corridor (CPEC) project has now been translated into physical form, said Chinese Ambassador Yao Jing.
Speaking at the Pak-China Business Opportunity Conference, organised by the Rawalpindi Chamber of Commerce and Industry (RCCI) on Tuesday, the envoy said more cooperation between private sectors of the two countries would bring down the manufacturing cost.
He said time had come to forge joint ventures and cooperation between private sectors of the two countries. “Both countries are enjoying great friendly relations and we need to explore more opportunities. The Chinese government is encouraging its private sector for more collaboration with Pakistani companies,” Yao said.
Pakistan to pay China $40b on $26.5b CPEC investments in 20 years
The envoy appreciated the Rawalpindi Chamber’s efforts to promote trade and business activities in the region and expressed hope that more business-to-business meetings would be held in the near future.
He pointed out that Chinese investors were keen to invest in energy, cement, electricity, environmental protection, textile and chemical sectors.
“CPEC offers immense trade and business opportunities to business enterprises of both countries and through this mega project more incentives and initiatives will keep flowing for the good of the entire region,” he added.
Speaking on the occasion, RCCI President Malik Shahid Saleem said, “We recognise CPEC as a game-changer and strongly believed that joint ventures with Chinese companies will open new avenues of cooperation and lead to improvement in trade ties.”
“Joint ventures between Chinese and Pakistani companies will increase the ownership of key stakeholders; the more local ownership we have in the projects, the more successful it will be,” he remarked.
The RCCI president said Pakistan’s economy offered great potential for joint ventures and investments, adding CPEC would be mutually beneficial for Pakistan and China and would ensure a level playing field for the businessmen and investors of both countries.
Published in The Express Tribune, March 27th, 2019.
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