Economy (Pak-China Economic Corridor to bring revolutionary progress- Zhong Shi)

March 28, 2014 Off By Web Desk

Islamabad: A delegation of Guangzhou Global Chamber of Commerce of China visited Islamabad Chamber of Commerce & Industry led by its Vice Chairman Mr. Zhong Shi and said that Pak-China Economic Corridor will usher in a new era of economic development between the two countries as it will bring revolutionary progress, especially in Balochistan and Kashgar.

He said the businessmen of both countries should take maximum benefit of the Free Trade Agreement signed between Pakistan and China to improve bilateral trade. He said the bilateral trade has reached US$ 12 billion and there is great potential to improve it.

He said many Chinese companies are already working in Pakistan while many more are looking at it as a promising country for investment and joint ventures. He said ICCI and Guangzhou Global Chamber should strengthen bilateral collaboration to bring the private sectors of both countries even closer.

In his welcome address, Khalid Chaudhry, Acting President, Islamabad Chamber of Commerce & Industry said China is the largest trading partner of Pakistan and many Chinese companies by working in Pakistan are rendering great contribution to the economic development of our country.

He said the grant of GSP Plus to Pakistan by the EU has created many new opportunities for investment and Chinese investors should take full benefit of such opportunities by investing in Pakistan’s textile sector.

Energy sector of Pakistan also offers tremendous prospects to foreign investors and Chinese companies should also enhance investment in this sector to earn lucrative returns.

He said the Pak-China Economic Corridor project is one of the greatest initiatives that both countries have agreed to execute and its implementation will bring plenty of economic benefits for both countries.

He said Chambers of Commerce of both countries should ensure frequent exchange of trade delegations to fully tap all untapped areas of mutual cooperation and added that ICCI delegation will participate in the forthcoming Canton Fair in China.