‘China-Pak have potential to cooperate in NEV sector’

Envoy encourages Chinese companies to invest in Pakistan’s growing NEV sector

SHANGHAI:

Pakistani Consul General in Shanghai, Hussain Haider emphasised the immense potential for China-Pakistan cooperation in the New Energy Vehicle (NEV) sector. Speaking at the China-Pakistan Electric Vehicle Industry Technology Service Cooperation Forum on July 5, Haider invited Chinese businesses to invest in Pakistan’s NEV industry, citing the country’s large and expanding market, as well as the government’s incentives.

The forum, hosted by the Consulate General of Pakistan in Shanghai and the ICT Belt and Road Union, coincided with the launch of the CPEC Industry Chain Cooperation Platform, which aims to establish a comprehensive service system encompassing key areas of industrial cooperation between China and Pakistan, including new energy, intelligent manufacturing, and the digital economy.

The platform seeks to bridge information gaps, enhance international integrity, and promote practical collaboration to elevate the China-Pakistan Economic Corridor (CPEC) to new heights of development.

During her opening remarks, Zhao Baige, Vice Chair of the 12th NPC Foreign Affairs Committee of the People’s Republic of China, highlighted the significance of NEV technology in the fourth industrial revolution. She emphasised that the growth of the NEV industry relies on supportive policies and robust production systems. China, being the world’s largest producer and seller of NEVs for eight consecutive years, has implemented comprehensive policy systems to facilitate their rapid development, including planning, subsidies, research investment, and standard formulation.

Usman Ali, Manager (Policy) at the Engineering Development Board (EDB), Ministry of Industries & Production, Pakistan, discussed the incentives for EVs in Pakistan under the Auto Industry Development & Export Policy (AIDEP). To promote EV manufacturing, Pakistan offers a 0% customs duty on charging infrastructure imports and a 1% customs duty on EV-specific parts. Additionally, the government subsidises registration fees for EVs in all provinces.

The forum saw participation from nearly 100 representatives from China and Pakistan’s NEV, technology, and transportation industries.

THE ARTICLE ORIGINALLY APPEARED ON THE CHINA ECONOMIC NET

 

Published in The Express Tribune, July 7^th, 2023.

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