Home / World / Chinese Companies Asked to Invest in Pakistan with Technology Transfer
Chinese companies asked to invest in Pakistan with technology transfer

Chinese Companies Asked to Invest in Pakistan with Technology Transfer

ISLAMABAD – Sardar Yasir Ilyas Khan, chairman and head of a delegation from the Islamabad Chamber of Commerce and Industry (ICCI) visited the Chinese Embassy in Islamabad.
He held a meeting with Minister Counselor (Economic and Trade), Xie Guoxiang, to discuss the possibilities of further improving bilateral trade and investment relations between Pakistan and China.
Sardar Yasir Ilyas Khan said Pakistan and China have a strategic friendship which could be strengthened by developing strong trade and economic relations between the two countries.
He said that Pakistan is a growing market for business activities and now is the time for Chinese companies to transfer technology to Pakistan and establish JVs and industrial units in our country.
In this way, Chinese investors could export their products to many markets around the world, including South Asia, Middle East, Europe and Africa.
He said China was the world’s second-largest economy with trillions of dollars in annual trade, but Pakistan’s exports to China were around $2 billion.
He said Pakistani exports to China could only increase to $23 billion if China provided a percent share of its supply chain by importing raw materials and intermediates from Pakistan.
Sardar Yasir Ilyas Khan said Pakistan’s automotive, information technology and telecommunications, industrial, agriculture and construction sectors have enormous potential for Chinese investors.
He said Pakistan’s Special Economic Zones (SEZs) offered tax exemption for many years, zero import duty on machinery and plant, and a 4-year payment plan to investors.
He stressed that Chinese investors should explore JVs and invest in these SEZs for lucrative returns. He said China is quite advanced in the agricultural sector and urged Pakistan to improve its yield per acre by sharing its agricultural machinery and technology with our country.
He urged the embassy to streamline its visa policy for Pakistani business people so that they can easily travel to China to explore business collaborations with their Chinese counterparts.
He further said that ICCI was working with the government to set up a one-stop-shop for investors and assured that ICCI would fully facilitate Chinese investors by putting them in contact with the right partners in Pakistan.
Speaking on the occasion, Xie Guoxiang, Minister Counselor (Economic and Trade) of the Embassy of the People’s Republic of China, said that the 2nd phase of the CPEC has started cooperation in the industrial and agricultural sectors, the health and digital technologies between China and Pakistan, saving money.
He stressed that Pakistan should focus on improving its infrastructure which would attract more Chinese investors to the Pakistani market.

Check Also

Greece, Turkey Launch Mediterranean Crisis Talks After 5 Years

Greece, Turkey Launch Mediterranean Crisis Talks After 5 Years

ATHENS, Greece – Greece and Turkey on Monday started exploratory talks in Istanbul – after …

Leave a Reply

Your email address will not be published. Required fields are marked *