ISLAMABAD
\nFederal Minister for Commerce, Jam Kamal Khan on Saturday emphasized the strategic partnership between Pakistan and China, often referred to as \u201ciron brothers.\u201d
\nThe Commerce Minister highlighted the importance of aligning the two countries\u2019 economic cooperation with their strong political and strategic ties. \u201cWhile our economic partnership has grown significantly, particularly through initiatives like the China-Pakistan Economic Corridor (CPEC) and the China-Pakistan Free Trade Agreement (CPFTA), there is still vast untapped potential,\u201d the minister noted.
\nFederal Commerce Minister delivered a virtual keynote address at the Pakistan Investment Conference held during the China International Fair for Trade in Services (CIFTIS), China\u2019s second-largest exhibition.
\nOrganized by Pakistan\u2019s Embassy in Beijing in collaboration with China\u2019s Ministry of Commerce (MOFCOM) and the Beijing Municipal Government, the event aimed to bolster B2B exchanges and foster investment opportunities in Pakistan.
\nFocusing on Phase II of CPEC, which emphasizes business-to-business (B2B) exchanges and win-win partnerships, the Commerce Minister stressed that since the Prime Minister\u2019s visit to China in June 2024, efforts to facilitate Chinese investments in Pakistan have gained momentum.
\nHe assured Chinese businessmen of the Government of Pakistan\u2019s support, reaffirming its commitment to creating an environment conducive to investment and industrial growth.
\nThe Commerce Minister outlined the competitive advantages that Pakistan offers to Chinese businesses, including abundant economic resources, investor-friendly policies, and access to major regional and global markets.
\nHe particularly emphasized Pakistan\u2019s demographic strength, noting that with a population of over 240 million people and a median age of 21 years, the country offers both a vast consumer base and a cost-competitive, adaptable workforce.
\nThe conference featured top industrial park operators and companies from Pakistan, including representatives from the Pakistan Green Initiative (SIFC), Exports Processing Zones Authority, Dhabeji Special Economic Zone, Gwadar Free Zone, International Innovative Park (EPZ), Netsol, National Bank of Pakistan, JW Group, and Uqab Group. Each of these organizations showcased Pakistan\u2019s potential across sectors such as agriculture, industry, ICT, and banking.
\nHigh-ranking Chinese officials also attended the event, including Ms. Liu Meiying, Deputy Secretary General of Beijing Municipal People\u2019s Government; Mr. Li An, Deputy Director General of MOFCOM; Ms. Lin Changhua, Deputy Director of SCO Demonstration Area, Qingdao; and Mr. Zhang Yanqing, Deputy Secretary General of the People\u2019s Government of Pingdingshan City.
\nDuring the conference, two important agreements were signed, including:- A USD 382 million investment contract between COFCO Technology and International Innovation Park Limited (EPZ).
\nA Memorandum of Understanding (MoU) between IBI and CEO Waetz Asia for Digital Transformation and Supply Chain Optimization of 200 textile factories in Pakistan.
\nThe second half of the conference featured panel discussions on Industrial Park Development in Pakistan and the potential for agriculture and technology cooperation between the two nations.
\nThe panel discussions were held at the Pakistan Pavilion, where an Investment Lounge was set up to facilitate B2B meetings between Pakistani and Chinese enterprises. The Pavilion themed \u201cInvest in Pakistan\u201d will remain operational from September 12 to 16, 2024, with a strong turnout from Chinese companies engaging with Pakistani businesses .Concluding his speech, Commerce Minister urged Chinese businesses to explore the vast opportunities Pakistan offers, stating, \u201cWith new developments and emerging opportunities on the horizon, Pakistan is the place to invest, and the time to act is now.\u201d He warmly invited all attendees to visit Pakistan to further explore the exciting investment and business prospects awaiting them.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Federal Minister for Commerce, Jam Kamal Khan on Saturday emphasized the strategic partnership between Pakistan and China, often referred to as \u201ciron brothers.\u201d The Commerce Minister highlighted the importance of aligning the two countries\u2019 economic cooperation with their strong political and strategic ties. \u201cWhile our economic partnership has grown significantly, particularly through initiatives like […]<\/p>\n","protected":false},"author":2,"featured_media":415687,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-431466","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n