Chinese investors interested in joint ventures with Pakistan
China Council for Promotion of International Trade (CCPIT)’s Vice President Wu Dengguo has shown interest in exploring opportunities of joint ventures and investment in Pakistan.
He said this while talking to the business community during his visit to Islamabad Chamber of Commerce and Industry (ICCI). He was flanked by a business delegation comprising representatives of Hunan Federation of Industry and Commerce, Hunan Provincial Department of Research, Hunan Provincial Department of Science & Technology, Hunan Provincial Commission of Development and Reforms, Hunan Provincial Commission of Agriculture.
Speaking at the occasion, CCPIT Vice President Wu Dengguo said that the purpose of the visit of Hunan Province delegation was to explore business prospects in Pakistan and find out areas that offered good opportunities of collaboration between the business sectors of both countries. He said that Hunan Province has a population of 70 million people and was a big market for Pakistani products. He Hunan Province was famous for fish, rice, manufacturing of supercomputers, construction machinery, maritime and energy equipment, automobile & parts and stressed that Pakistani companies should focus on promoting cooperation in these areas with the counterparts of Hunan Province.
Hunan Federation of Industry and Commerce Vice Chairman Yang Guan Glin said that some companies of Hunan Province of China were already doing business in Pakistan and more were interested in JVs and investment in Pakistani market. He said issues like lack of information about trade laws and regulations of both countries should be addressed to promote bilateral trade and economic relations up to the real potential of both sides. He said that his Federation has 200,000 members in Hunan Province and invited ICCI delegation to visit Hunan for exploring business matchmakings.
On the occasion, Islamabad Chamber of Commerce & Industry President Ahmed Hassan Moughal said that CPEC offered great opportunities of business collaboration to the private sectors of Pakistan and China and efforts should be made to exploit these prospects. He said Chinese companies should bring in technology and machinery and set up JVs in the Special Economic Zones of Pakistan being set up under CPEC. He assured that ICCI would fully cooperate with CCPIT in promoting business linkages between entrepreneurs of both countries.