Pakistan, China vow to further enhance trade

Agree to work on outcomes of joint study conducted by two sides

BEIJING:

Pakistan and China have expressed the resolve to further work on enhancing bilateral trade and investment by reviewing their free trade agreement and implementing the outcomes of a joint study conducted by the commerce ministries of both sides.

Those discussions were held in a meeting between Pakistan’s Commerce Minister Dr Gohar Ejaz and Chinese Vice Minister Li Fei in Beijing, aimed at cementing economic ties and exploring opportunities of more trade and investment.

Both the ministers discussed the implementation of the China-Pakistan Economic Corridor (CPEC), which had entered its second stage.

Ejaz highlighted Pakistan government’s policies to facilitate foreign direct investment and specifically mentioned the role of the Special Investment Facilitation Council (SIFC) as a ‘single window’ interface for potential investors.

Later, the minister held a series of meetings with business executives of leading Chinese state-owned enterprises and private companies.

As part of efforts to boost China-Pakistan trade and commercial ties and building on the momentum from Prime Minister Anwaarul Haq Kakar’s visit in October, Ejaz went on a trip to China along with a 20-member business delegation representing textile, food, agriculture, chemicals, fertiliser and technology sectors.

Read Pakistan, China forge textile ties

The minister presented Pakistan’s investment-friendly policies in an interaction with prominent Chinese business and investment leaders and invited them to invest in sectors like textile, food, agriculture, livestock, technology, infrastructure and energy.

He highlighted Pakistan’s strategic location, Special Economic Zones, skilled workforce and potential for business growth as well as pointed to Pakistan’s dedication to providing a favourable business environment and facilitation.

The two sides focused on fostering stronger economic collaboration, exploring investment opportunities and deepening trade relations.

The Chinese business and investment leaders, who represented over 150 enterprises, expressed keen interest in exploring partnerships and joint ventures in Pakistan.

They appreciated Pakistan’s openness and expressed confidence in the opportunities available for mutually beneficial collaboration.

Published in The Express Tribune, December 13^th, 2023.

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