Pakistan is most economical route for Chinese exports: Ambassador Masood Khalid

Beijing, April 30, 2014 (PPI-OT): Pakistan being the most economical route for Chinese exports is naturally positioned to serve as an energy and trade corridor for China. This was stated by Ambassador Masood Khalid on the occasion of ‘Pakistan Theme Day,’ held at the Pakistan Embassy in Beijing today.

The Seminar was co-sponsored by the Embassy of Pakistan and the China Overseas Investment Federation (COIF). The day aimed to highlight the business and investment environment of Pakistan to the Chinese companies, businessmen and investors at the event.

Talking to Chinese company executives, entrepreneurs and businessmen, Ambassador Masood Khalid said that Pakistan, with a large consumer base and strong economic fundamentals, was an ideal location for trans-regional trade and investment due to its geographic location and it provided the cheapest and most viable sea route to western China and Central Asian States.

He said that the cargo destined from and to Persian Gulf and Middle East could reach Chinese provinces within a few days from Pakistani ports of Gwadar and Karachi. Pakistan, he said, was therefore naturally positioned to serve as an energy and trade corridor for China. With western China emerging as the new hub of manufacturing industry, Pakistan was the most economical route for Chinese exports to Middle East, Africa and Europe. Pakistan was also an alternate safe route for Chinese exports currently passing through the Straits of Malacca, he further explained.

Ambassador Masood said that both countries have initiated work on the mega project of Pakistan – China Economic Corridor, under which up-gradation of Karakorum Highway, road and rail links, industrial parks, Special Economic Zones, energy pipelines, communication and IT networks have been envisaged He said both countries have now moved from the conceptual stage to planning stage, whereby experts are engaged in thrashing out the feasibility of numerous projects of this Corridor.

The COIF Executive Director Mr. Zheng Shuai, said that there were a lot of investment opportunities in several fields in Pakistan, such as oil and gas exploration, coal mining, road network construction, railway upgrading and reconstruction and electrification.

As the all weather friend, Pakistan offered Chinese companies better investment environment. In Pakistan, the foreign investor will also have the same facility and advantage that the local company would have, he maintained. He urged that it was necessary to enhance the interconnectivity through China Pakistan Economic Corridor (CPEC) and to develop key projects along the corridor between the two countries.

Mr. Zhang Kai, Vice President of Hanergy Global Solar Asia Pacific limited said that with Pakistan having a very good sunshine presence, Hanergy was working on developing solar projects in Pakistan, and had set up a branch in the country. He said that the company had received strong support from the Pakistan government.

The Economic Minister at the Embassy, Saleem Khan and Commercial Counsellor Riaz Sheikh also gave presentations to highlight the economic and trade potential of Pakistan.

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