CPEC: Chinese delegation shows interest in JVs with Pakistani counterparts

Islamabad: A delegation of Overseas Chinese Federation of Gansu Province visited Islamabad Chamber of Commerce and Industry and showed interest to setup Joint Ventures (JVs) with Pakistani counterparts in China-Pakistan Economic Corridor (CPEC) projects. The representatives of Gansu Federation of Returned Overseas Chinese, Gansu Construction Investment Group Corporation, Nanya Trading International Import & Export (Pvt.) Ltd., Overseas Chinese Association of Pakistan were also in the delegation. The delegation members said that 11 companies and over 800 citizens of Gansu Province were already working in Pakistan and more enterprises of Gansu Province were interested to explore JVs and investment in CPEC. They said that CPEC was making good progress in Pakistan and China and added that it would bring benefits for both countries as well as for the region. They said that the purpose of delegation visit was to study the Pakistani market and explore business opportunities in it for Chinese enterprises. The delegation members also invited ICCI members to visit Gansu Province and explore business opportunities with Chinese counterparts. Addressing the delegation, Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry said that CPEC was a project of long-term cooperation between Pakistan and China and it would strengthen Pakistan’s economy by improving infrastructure development, energy, industrialization and agriculture development in Pakistan. He stressed that Chinese investors should bring technology and set up JVs with local partners in CPEC and in other areas of Pakistan’s economy. He said Pakistan was a competitive destination for manufacturing activities and added that by investing in Pakistan, Chinese companies would be able to meet the demand of local market and export surplus products to many other countries including Middle East, Central Asia and other regions. He assured that ICCI would extend all possible cooperation to Chinese companies in finding right partners in Pakistan. Rafat Farid Senior Vice President, Iftikhar Anwar Sethi Vice President ICCI and others also spoke at the occasion and highlighted the potential areas of cooperation between the enterprises of both countries.