Pakistan, China engage in “constructive interaction” as Pakistan aims to boost exports

Beijing: Pakistan and China have engaged in a “constructive interaction” to boost the economic and investment ties as Islamabad looks to achieve ambitious goals in trade, especially exports.

In an initiative to boost economic and investment ties between business communities of Pakistan and China, Pakistan’s Federal Commerce Minister Dr Gohar Ejaz engaged in a constructive interaction with prominent Chinese business and investment leaders at the Business networking dinner at a local hotel in Beijing.

Gohar Ejaz is visiting China with a packed schedule as part of the ‘Vision Pakistan US $ 100 billion,’ – aiming to take exports mark to an ambitious US $ 100 billion.

Last year, the export revenue stood at $39.42 billion, marking a 24.94 percent increase from 2021. As a first step, Pakistan plans to take the revenue to US $ 50 billion in five years. Pakistan has high expectations from China as the Iron Brother has invested massively in the country and contributed immensely to boost the Pakistani trade and business.

The Commerce Minister along with top 20 business executives from Pakistan interacted with Chinese Business leaders representing over 150 Chinese enterprises.

Dr Gohar Ejaz presented Pakistan’s investment-friendly policies, highlighting the country’s strategic location, special economic zones, skilled workforce, and potential for business growth.

He emphasized Pakistan’s dedication to providing a favorable business environment and facilitation. During an interaction, key topics of discussion included investments in sectors such as textiles, food, agriculture, livestock, technology, infrastructure, energy.

The discussions focused on fostering stronger economic collaboration, exploring investment opportunities, and deepening trade relations between the business communities of the two nations. The Chinese business and investment leaders, expressed keen interest in exploring partnerships and ventures in Pakistan.

They appreciated Pakistan’s openness and expressed confidence in the opportunities available for mutually beneficial collaboration. Ambassador of Pakistan to China Khalil Hashmi in his welcome speech thanked the Chinese entrepreneurs for their huge presence in the networking dinner.

He assured full support and facilitation to the Chinese business community interested in doing business and investment in Pakistan.

As part of efforts to boost China-Pakistan trade and commercial ties and building on the momentum from Prime Minister Anwaarul Haq Kakar’s last visit in October, Dr Gohar Ejaz is undertaking this visit to China, along with 20 members business delegation representing textiles, food, agriculture, chemicals, fertilizers, and technology sectors.

In this regard, the Minister for Commerce and Industry met with Chinese Vice Minister Li Fei in Beijing. The meeting was aimed at further cementing economic ties and exploring various opportunities in trade, commerce and investment.

Both the Ministers discussed the implementation of the China-Pakistan Economic Corridor (CPEC), which has now entered its second stage. They expressed their resolve to further work on enhancing bilateral trade and investment by reviewing the China-Pakistan Free Trade Agreement (FTA), implementing the outcomes of the joint study conducted by the Commerce Ministries of both sides.

Dr Gohar Ejaz, also highlighted government policies to facilitate Foreign Direct Investment (FDI) in Pakistan. He mentioned the role of the Special Investment Facilitation Council (SIFC) as a ‘Single Window’ interface for potential investors, creating a unified approach to encourage investments in Pakistan.