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PM maiden visit to China to help bail out of economic crunch and cementing trade relations

LAHORE : SAARC Chamber Senior Vice President Iftikhar Ali Malik Wednesday said the maiden visit of Prime Minister Imran Khan to china will yield positive durable impact towards strengthening of trade relations between the both countries and help cement further bilateral relations on sound footing.

In his statement issued here today, he said Prime Minister Imran Khan has taken personal interest to revive the national economy and his decisions taken in regard of austerity measures, commitment to end corruption and repatriate public funds are highly appreciated by the Chinese and other countries.

He said he is much optimistic that Imran Khan would be succeeded to revive economy and his efforts to steer the country out of the crisis through seeking financial aid from friendly countries rather than totally relying on IMF are getting fruits as Saudi Arabia had already assured the government to give the much needed money to Pakistan at this crucial stage. He said the focus of the visit will be expanding economic and trade ties besides strengthening partnership and finalising a trade corridor between the two countries.

Iftikhar Malik said that Pakistan was offering conducive friendly environment for foreign direct and indirect investment. There was vast scope for Chinese private and public sector investment especially in the fields of energy, agriculture, livestock and IT, he added. He said that people of Pakistan always attached great importance to Chinese people as China was time tested friend of Pakistan. He said that China should also help explore the rich natural resources of Pakistan which will better the national economy and provide ample job opportunities. He said all MOUs to be inked during visit must be implemented in true letter and spirit.

He said that it was need of the hour that China being time tested friend of Pakistan should also transfer the modern technology for exploiting the indigenous resources. He said frequent exchange of visits of private sector delegation in either country will deepen mutual understanding and co-operation in all sectors.

SAARC CCI SVP said that South Asia is mired in several crisis and conflicts at the moment due to various unresolved political and geographical factors and all these issues would be resolved effectively through strong regional connectivity and business to business contacts. Highlighting the role of China in building the South Asian economy, he said China is the world’s second largest economy and a global power.

China has huge foreign reserves and is massively investing in infrastructure in different parts of the world. The cash-strapped SAARC is in dire need of foreign investments to tap into its natural resources. China’s entry will undoubtedly bring dramatic economic changes to the region and the lives of its people,” he added.

On this occasion, he suggested various ways to further promoting cooperation between Chinese commercial industry and its counterpart in South Asia, including the enhancement of trade and economic information sharing, organisation or more companies to invest in South Asia, increasing imports from South Asia and promotion of a good business environment.



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