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17 members Chinese delegation visits LCCI

17 members Chinese delegation visits LCCI

LAHORE: Pakistan is rapidly gaining the status of hub of trade and economic activities due to liberal economic policies of the present regime and days are not far when Pakistan will be top priority of the foreign investors.

This was stated by the LCCI President Sheikh Muhammad Arshad while addressing a 17-member Chinese delegation, led by Executive Vice Chairman of Shandong Province Federation of Industry and Commerce Sun Ru Sheng, here at the Lahore Chamber of Commerce and Industry (LCCI). LCCI Vice President Nasir Saeed also spoke on the occasion while LCCI Executive Members were also present on the occasion.

The LCCI President said that China has played a fundamental role in economic uplift of Pakistan and the people of Pakistan consider China a savior as it had extended best cooperation to Pakistan at all testing times. He said that Chinese delegation is visiting Pakistan at a time when Pakistan is looking to maximize foreign direct investment. Being a resourceful country, Pakistan has a lot to offer the foreign investors.

The LCCI president informed the Chinese delegation that Pakistan is 4th largest producer of milk and cotton, 9th largest producer of wheat, 10th largest producer of rice, 7th largest producer of fruits and ranked 10th as far as labour force is concerned.

He said that geographically, Pakistan is situated at one of the best places of the world. He said that foreign investor can make their way to the landlocked Central Asian States and countries of the South Asia through making investment in Pakistan.

Sheikh Mohammad Arshad said that China is one of the largest trading partners of Pakistan and it is expected that bilateral trade between Pakistan and China will touch the figure of $ 15 billion within the next few years. Although Pakistan’s exports to China have been gradually increasing, the trade has always been in favor of China. He said that due to excellent economic policies of China and the hard work of Chinese leadership, China has become a big economic force in the world.

The LCCI Vice President Nasir Saeed invited the Chinese businessmen to invest in Pakistan in priority sectors including Oil and Gas, Mining, Infrastructure, Power (Coal, Hydel, Gas Based), IT and Telecom, Chemicals (Fertilizer (urea), Glass, PV and Polymers), value added Textile Manufactures, Engineering Goods, Textile Machinery, Electronics, Automotives, Agricultural and  Agro based Industry, Pesticides, Cool Chains, Food and Fruit Processing and Packaging, Live Stock and Dairy Farming.

Nasir Saeed said Pakistan because of its strategic location could be a more suitable destination for Chinese investments. Pakistan is offering liberal investment policies allowing 100% foreign equity and equal treatment to local and foreign investors. He said Pakistan has a network of Export Processing Zones and industrial estates ready to accommodate Chinese investors especially in Punjab Province.

He said that globalization had provided Chinese investors a golden opportunity to relocate their large scale industry to Pakistan to reap the benefits of its most conducive business policies as compared to other regional countries.

Head of the Chinese delegation Sun Ru Sheng said that Chinese businessmen are ready to join hands with Pakistani counterparts in the sectors including Mining, Infrastructure Development, Construction, and Environmental Protection including water treatment projects, Dairy, Chemicals (Glue) and cold storage establishment.

He said that the Chinese business community values Pakistan highly therefore they were always ready to put their money in new ventures in Pakistan. He said that both China and Pakistan are resourceful countries but the level of bilateral economic relations do match with the warmth of their ties therefore the private sectors in the two countries need to come forward to further strengthen these relations.