AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore, October 05, 2015 (PPI-OT): Chinese investors have showed keen interest to enter into joint ventures with their Pakistani counterparts in the fields of solar and coal power generation projects. A 2-member Chinese delegation comprising CEO Asia Pacific Sun Huoi and Miss Fang Wong from MenShine Fang Wong Monday called on the LCCI President Sheikh Muhammad Arshad. The delegation members said that the Chinese business community values Pakistan highly therefore they were always ready to put their money in new ventures in Pakistan.
Former LCCI President Mian Shafqat Ali also spoke on the occasion. They said that both China and Pakistan are resourceful countries but the level of bilateral economic relations do match with the warmth of their ties therefore the private sectors in the two countries need to come forward to further strengthen these relations.
To a question, the Chinese delegation members said that they are also planning to step in into joint ventures with the businessmen of United States of Arab Emirate (UAE). Speaking on the occasion, LCCI President Sheikh Muhammad Arshad said that China is a time-tested friend and a very important partner in Pakistan Economic Development and bilateral trade. The involvement of Chinese enterprises, both in terms of Technical and Financial assistance in several development projects is reflective of our cordial relations based on mutual trust and sincerity.
He said that China is very important trading partner of Pakistan and it is expected that bilateral trade between Pakistan and China will touch the figure of $ 15 billion within the next few years. Although Pakistan’s exports to China have been gradually increasing, the trade has always been in favour of China.
“Our bilateral trade has grown, but it is nowhere near the potential that exists between the two countries. Pakistan has a lot to offer as it is rich in all kinds of resources.”
Sheikh Muhammad Arshad said that both the countries not only share border but also have unanimity of views on various political and economic issues. The two countries have a combined market of more than 1.5 billion people but the trade volume needs to be pushed up. The Chinese importers may have better prospects for Pakistani goods particularly of Carpets, Leather and leather products, Surgical Equipment, Sports goods, Fruits and vegetables, Rice, Pharmaceuticals, Cotton etc.
Most of our industrial units in these areas are ISO certified and are producing best quality products at competitive rates as compared with other countries in the region. The LCCI President said that joint ventures can be initiated in sectors like Construction, Hotels and Tourism; SMEs cluster development, Computer and Cellular chips, Textiles and Garments, Home Appliances, Corporate Farming, Seafood and Food Processing, Banks and Finance, Light Engineering etc.
He said that two most important areas where Pakistan needs urgent assistance are Energy and Agriculture. He said that Pakistan is an agrarian society with tremendous potential in Agricultural sector. China has expertise both in agriculture and agro-based industry and if some Joint Ventures are carried out, it would be mutually beneficial for both countries. The increase in agricultural production would not only help in meeting our local demands but also enable us to export surplus quantity to China.
For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk