Chinese investors keen to undertake joint ventures

Pakistan’s investment policies termed attractive, encouraging.

LAHORE:

Chinese investors have expressed keen interest in initiating joint ventures with their counterparts in Pakistan, which is an ideal destination for pouring foreign investment.

These views were expressed by the head of a 19-member Chinese delegation and Deputy Director General Bureau of Foreign Trade and Economic Cooperation of Guangzhou Municipality, Cao Zhicong, here on Wednesday. The delegation members were meeting businessmen at the Lahore Chamber of Commerce and Industry (LCCI).

Cao Zhicong said globalisation and regional integration had provided enormous opportunities for deepening cooperation between China and Pakistan. He termed Pakistan’s investment policies attractive, providing a lot of opportunities, which were encouraging Chinese entrepreneurs to come and invest in the country.

He said the Bureau of Foreign Trade and Economic Cooperation of Guangzhou Municipality would step up efforts to strengthen trade and investment cooperation between the two countries.

Calling China a key partner in economic development and trade, LCCI Senior Vice President Mian Tariq Misbah said assistance of Chinese enterprises, both technical and financial, in several development projects reflected that the relations were based on mutual trust and sincerity.

Misbah expressed hope that bilateral trade would touch $15 billion in the next few years. Although Pakistan’s exports to China have been growing gradually, trade has always been in favour of Beijing.

Pakistani goods that could be of particular interest to Chinese importers are carpets, leather and its products, surgical instruments, sports goods, fruits and vegetables, rice, pharmaceuticals and cotton.

“Most of our industrial units producing such goods are ISO-certified and are coming up with best-quality products at competitive rates,” Misbah said.

He suggested that joint ventures could be initiated in the areas of construction, hotel and tourism, SME cluster development, computer and cellular chips, textile and garments and light engineering.

Published in The Express Tribune, September 25^th, 2014.

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