Pakistan, China to boost economic relations for joint ventures

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ISLAMABAD
China and Pakistan on Friday agreed to enhance the business and economic relations for joint ventures, business to business talk for increasing industrial cooperation.
On the backdrop of the successful meeting of the Minister, Chaudhry Salik Hussain and Secretary, Asad Rehman Gillani, Board of Investment with Ambassador of China, Mr. Nong Rong, during which the resolve was made to create conducive atmosphere for B2B, Joint Ventures and Matchmaking , especially in the ambit of the recently signed Framework Agreement on Industrial Cooperation.
The Board of Investment led by the Additional Secretary/ EDG-II, Khashih ur Rehman and Project Director, CPEC-IC, Asim Ayub, called on the Consul General, Li Bijian in Karachi.
The Consul General, Li Bijian appreciated BOI for meeting the Chinese and Pakistani associations in Karachi, and bridging the gap between the private sector of both countries.
He praised the BOI’s efforts of taking calculated steps for attracting high quality FDI through concrete efforts.
An example of which is the BOI’s initiative along with All Pakistan Chinese Enterprise Association and the Chinese Embassy for establishing the Pakistan Business and Investment Forum, the same forum was appreciated by President Xi jinping during Pak-China joint statement.
The Consul General, expressed, through this platform the issues of the Chinese companies can be resolved; while, enhancing collaboration between Pakistani and Chinese Enterprises.
The Consul General, appreciated the B2B CPEC investment conferences organized by BOI in Karachi, Lahore and Peshawar. And, invited the BOI to take these endeavors to China as well for promoting the bilateral investments.
He praised the BOI’s Honorary Investment Counselor, Ms. Emaan Li’s efforts for arranging a charter plane for 163 Pakistani Businessmen to Yiwu, China in collaboration with Yiwu’s local government.
In this regard, he encouraged BOI to arrange delegations to China for enhancing the Business to Business and People to People exchanges. The CG will provide all-out facilitation for issuing the visas and arranging road shows.
Both sides praised the resolve of the Pakistani Businessmen of being robust in having RnD of the products in demand; thereby, ensuring technological development of the Pakistani industries.
He also advocated the adoption of RMB settlements for encouraging the Industrial Transfer from China and easing the pressure of other foreign exchange currencies.
The Additional Secretary/ EDG-II, BOI, informed about BOI’s commitments with the National Development and Reforms commission China for engaging the provincial and local governments of China for promoting Industrial Cooperation at all levels.
The AS apprised that the Government of Pakistan has proposed to build a G2G SEZ in Pakistan in collaboration with China, in order to facilitate the influx of Chinese industries relocating to Pakistan.
He informed that BOI had simplified the work visa process and visit visa and encouraged the Chinese investors and companies to apply for the work visa. The Project Director, CPEC-IC, informed that BOI has submitted to the local chambers a list of 30 Chinese projects ready for investment in Pakistan.
This was appreciated by the CG and he offered to encourage the Chinese companies to be even more forthcoming in sharing collaboration opportunities. In this way, under the support of BOI, Chinese missions in Pakistan and PCBIF, meaningful joint ventures may be struck between companies from both sides.