Over 100 Chinese firms participate in expo

BOI says two sides manage to sustain economic partnership despite pandemic

LAHORE:

Pakistan and China have sustained a healthy economic and investment partnership despite the Covid-19 pandemic as more than 100 Chinese companies are participating in the industrial expo through physical and online channels, revealed Board of Investment (BOI) Additional Secretary and Executive Director General Khashiur Rehman.

Inaugurating the Pakistan Industrial Expo 2021 on Friday, Rehman termed the event an opportunity to bring businesses of the two sides together for rejuvenating investment cooperation.

“It is high time to join hands for the much-needed economic and investment rebound,” he remarked.

It was the fifth expo being arranged in Lahore to promote bilateral business relations, he said, adding that the expo would continue till October 31.

He emphasised that BOI was taking lead in investment promotion, facilitation and industrial cooperation as the second phase of China-Pakistan Economic Corridor (CPEC) had commenced.

The second phase of CPEC involved people-to-people and business-to-business (B2B) cooperation, he added.

He voiced hope that the expo would play a pivotal role in achieving the goals of the second phase of CPEC.

In terms of facilitation of innovation and B2B ties between the two sides, Rehman highlighted that the establishment of a Pakistan-China B2B investment portal would enable the matchmaking prospects of Chinese, local and third-party investors.

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On the occasion, the suggestions received from the investor community and stakeholders were noted by the BOI officials with the commitment to take them up at the appropriate level.

Henan province, being the largest province of China, has immense potential for investment projects and activities between businesses of the two sides, according to a BOI press release.

Pakistan’s Embassy in Beijing Commercial Counsellor Badaruz Zaman said that Pakistan’s economy stood at a crucial vantage point with the potential to steer towards an industrialised future.

“Pakistan must attract new investments, which will help the country to create jobs and foster economic growth,” he said.

Pakistan-China Joint Chamber of Commerce and Industry President Wang Zihai highlighted that the expo would digitally link member companies with Chinese enterprises.

Published in The Express Tribune, October 30^th, 2021.

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