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Chinese delegation visits LCCI

Chinese delegation visits LCCI

LAHORE:  The Lahore Chamber of Commerce & Industry on Monday expressed optimism that the Chinese President H.E. Xi Jinping’s visit would prove a great booster to Pakistan’s economy.

While talking to a high-powered Chinese delegation led by Yu Xiao, Director General, Qinghai Provincial Commerce Department here at the Lahore Chamber of Commerce & Industry, the LCCI President Ijaz A. Mumtaz said that China has played a significant role in economic development of Pakistan. Visit of Chinese president will not only further cement the trade and economic ties between the two brother countries but would also pave way for joint ventures between the Pakistani and Chinese businessmen in various sectors of economy. LCCI Senior Vice President Mian Nauman Kabir and xxecutive committee members were also present on the occasion.

On the occasion, a number of topics of mutual interest came under discussion and both sides pledged to play their due role to strengthen the economic ties between the two countries.

Ijaz A. Mumtaz said that visit of Chinese premier was a landmark and historical moment in the history of Pak-China relationship. He said that agreements worth billion dollars would help Pakistan to overcome its economic ills.

He said that the visit of Chinese delegates from Qinghai province indicates that Chinese business community is focusing Pakistan in general and Punjab in particular for strengthening bilateral trade and economic relations.

The LCCI President said that Lahore has a special significance being the hub of business activities in Punjab. He said that both public and private sector organizations are striving hard to fully exploit the trade and investment potential of Punjab in collaboration with foreign investors.

He said that China will be our first choice to join hands for joint ventures. “We do hope that the state level cooperation between two countries will bring greater fortune to both of us”, Ijaz A. Mumtaz added.

He said that in the present economic scenario when Pakistan is facing acute energy crisis and desperately needs foreign investment to get out of this situation, the need and importance of high level meetings between the heads of states cannot be overemphasized.

Ijaz A. Mumtaz said that China is an important trading partner of Pakistan. It is the second largest importing country after UAE and regarding top exporting countries of Pakistan, China comes at second place after USA.

He said that through developing private to private contacts, we can further strengthen our trade relations. Private sectors of both countries need to interact on regular basis for exploring more avenues for trade expansion and opportunities for investments.

The LCCI President invited the Chinese investors to come here and exploit the vast untapped potential of Punjab.

He said that we need to forecast the upcoming potential of business opportunities which will emerge after the completion of Gawadar Port.

He said that both China and Pakistan can equally gain benefit from this port which can prove to be a decisive factor in turning around our economic condition.

Ijaz A. Mumtaz said that there are ample opportunities of trade available for Chinese businessmen in the fields of agriculture, halal food products, leather, rice, dry fruits and handmade carpets etc.