Vision Pakistan US $ 100 billion: Pakistani Commerce Minister flies to China with a packed schedule

Islamabad: Federal Minister for Commerce and Industries Dr Gohar Ejaz flew to China on Saturday afternoon to lead a high-profile business delegation with a packed schedule as part of the ‘Vision Pakistan US $ 100 billion,’ following up on Prime Minister Anwarul Haq Kakar’s October visit this year.

The delegation spans various sectors, including Agriculture, Electric Vehicles, Marble, Cement, Fertilizer, Fruit & Vegetable, Home Appliances, Glass, Chemicals, and Textiles. The objective is to engage in trade and investment discussions, form joint ventures, and conduct Business-to-Business (B2B) meetings during the official visit.

Notably, the delegation will make a historic visit to Suzhou City, a major commercial and industrial hub in East China, emphasizing the Ministry of Commerce’s strategy to engage at the provincial level with Chinese manufacturing hubs.

Suzhou boasts a GDP exceeding US$300 billion, with imports at US$153 billion and exports at US$230 billion.

Dr Ejaz, the first Commerce Minister from Pakistan to visit this part of China, will underscore the significance of private sector collaboration in enhancing Pakistan-China relations.

Emphasizing the role of Small and Medium-sized Enterprises (SMEs) in Pakistan’s progress, he will discuss the crucial role of the Special Investment Facilitation Council (SIFC) in facilitating Chinese investments in sectors like agriculture, mining, new energy, and Information Technology (IT).

In Beijing, meetings are scheduled with officials from the Chinese Ministry of Commerce, product associations, and the China Chamber of Commerce for Import and Export.

Ejaz will also meet with the CEO of COFCO Group and a delegation from Weifang Steel Group. The delegation plans to visit Zhongguancun, China’s Silicon Valley, and engage with Chengdu Century Intending Investment Management (CENTINCO) for potential collaboration in developing an Export Processing Zone in Gwadar.

A Business Networking Dinner, likely attended by over a 100 Chinese enterprises, will precede the Minister’s online participation in the Min-Ministerial of WTO on special invitation of the UAE Commerce Minister.

Speaking to journalists before departure, Ejaz highlighted the importance of private sector collaboration as the next step in strengthening the Pak-China relationship. He said: “SMEs (Small and Midsize Enterprises (SMEs) are the key to Pakistan’s prosperity and progress.”

The commerce minister will also brief the Chinese investors about the crucial role of the Special Investment Facilitation Council (SIFC) in streamlining their investments. “Pakistan is focusing on sectors such as agriculture, mining, new energy, and IT under the framework of the SIFC” Dr Ejaz maintained.