Chinese delegation explores business opportunities in Lahore

Lahore: A Chinese delegation led by Vice President of the China Association of Small and Medium Commercial Enterprises, Xu Xiang visited Lahore to explore business opportunities and strengthen economic ties between China and Pakistan.

The delegation participated in the 3rd Pakistan Engineering and Healthcare Exhibition, ministerial meetings, B2B negotiations, and company visits.

“The exhibition participation and face-to-face communication with Pakistani businesses allowed the companies to gain initial insights into the commercial environment, market demands, and industry gaps in Pakistan,” stated Xu Xiang. The participating companies gained fruitful results from this exploration, China Economic Net (CEN) reported. Sang Junfeng, Chairman of Shandong Xinhai International Trade Company and director of the association, already had established trade relations with Pakistan a few years ago.

This visit further reinforced his confidence in establishing factories in Pakistan. “The high and fluctuating fuel costs in Pakistan, coupled with severe air pollution in Lahore, a major industrial city, make it imperative to transform from oil-powered to electric transportation.” Sang Junfeng said that the company has already established a new energy company in Pakistan and plans to complete the construction of a new factory within the year. The company aims to produce electric two-wheelers and three-wheelers in Pakistan. Additionally, the second phase of the company’s photovoltaic energy storage project in Pakistan will contribute to addressing the local electricity shortage. In addition to new energy opportunities, companies also discovered significant cooperation potential in the fields of medicine and agriculture.

Huang Wengang, Chairman of Lincang Lubao Agricultural Technology Company, highlighted the cooperation opportunities in the agricultural trade industry. “We see potential in importing agricultural products, including fruits and non-standard agricultural products from Pakistan. There is also an opportunity for us to export tea, coffee and nuts to Pakistan. By strengthening bilateral trade between the two countries, we are confident that both sides can reap mutual benefits.”

Shi Busheng, the representative of Zhejiang Wuchuang Pharmaceutical Chain Company visited Pakistani pharmaceutical retail enterprises and discovered a high demand for medical products in Pakistan, while the industry lags behind due to a lack of innovative drugs and R&D capabilities. “Discussions with the Deputy Director of Pakistan’s Drug Regulatory Authority revealed that the pharmaceutical industry is encouraged for investment, with exemptions on equipment imports and tax benefits for building factories. Despite this, the weak industry chain and reliance on imported raw materials present challenges,” said Shi Busheng. Considering the potential opportunities and challenges, he will conduct further investigations before finalizing the investment scale and cooperation model.