Pak-China managed to sustain economic partnership despite Covid-19

by index360

LAHORE: Despite the Covid-19 situation, Pakistan and China have been able to sustain a healthy economic and investment partnership and it is now high time to join hands for a much-needed economic and investment rebound.

More than 100 Chinese companies are participants of the Expo through both physical and online mode of participation.

This is the best possible solution to bring businesses from both countries together for rejuvenation of bilateral investment cooperation.

These views were expressed the Additional Secretary/Executive Director General, Board of Investment, Khashih ur Rehman while inaugurating the Pakistan Industrial Expo 2021 on Friday.

This is the 5th edition of this expo being arranged by the Chinese company in Lahore since last many years to promote business relations between Chinese and Pakistani investors. The expo will continue till October 31, 2020 and being held in offline-online mode.

Rehman stated that with the commencement of the second phase of CPEC, which mainly focuses on people to people and business to business (B2B) cooperation, BOI is continuing to take lead on investment promotion, facilitation, and industrial cooperation.

He expressed that the Pakistan industrial Expo 2021 will play a pivotal role in achieving the goals of the second phase of CPEC. He informed the audience that in terms of facilitation of innovation and business to business (B2B) ties between the two countries, the establishment of a Pakistan China Business to Business (B2B) Investment Portal by BOI in collaboration with its Chinese counterpart, the China Council for International Investment Promotion (CCIIP), will enable the matchmaking prospects of Chinese, local and third-party investors.

The suggestions received from the investor community and stakeholders were highly appreciated and noted by the BOI officials with the commitment to take them up at appropriate level. The Henan province, being the largest province of China has immense potential for future investment projects with Pakistan, and scope for high-quality investment activities between the businesses of the two countries.

Badar uz Zaman, Commercial Counsellor in Pakistan’s Embassy in Beijing, addressed the participants while stating that Pakistan’s economy stands at a crucial vantage point with the potential to steer the nation towards an industrialized future underscored by economic prosperity. For this, Pakistan must attract new investments which will help the country to create jobs and foster economic growth. In this regard, China is the biggest FDI contributor and there is immense capacity for further bilateral investment endeavors.

Pakistan China Joint Chamber of Commerce and Industry president Wang Zihai said that during the under prevailing global pandemic it is inconvenient to hold meetings and conferences at massive levels. This initiative has been taken to digitally link our member companies with Chinese enterprises of CNC machinery, construction machinery, new energy, building material, agricultural machinery, plastic machinery, hardware, chemical, and auto parts.

He further added that all B2B meetings will be held online via terminal equipment which is installed on every booth. In this way, the event would go on with a minimal impact of Covid-19.

Salahuddin Hanif, Secretary General PCJCCI we said that we will organize more exhibitions of this nature in collaboration with Chinese Commerce Departments. He further informed that the concept of this online and offline business interaction is to provide contemporary solutions for carrying out normal business operations by avoiding physical concentration of business people.

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