China - Pakistan Pump & Valve Industry Cross-border Investment Forum attracts Chinese enterprises

by Zafar Hussain

BEIJING, Jun 29 (Gwadar pro)- China - Pakistan Pump & Valve Industry Cross-border Investment Forum and China (Wenzhou) Int'l Pump & Valve Fair Promotion Conference held on Monday has attracted Chinese enterprises to collaborate with Pakistani companies to take advantage of the investment opportunities offered in the special economic zones in Pakistan.

The investment forum was organised by the Embassy of Pakistan in Beijing and co-sponsored by the China Council for the Promotion of International Trade Beijing Sub-council (CCPIT Beijing), China Council for the Promotion of International Trade Wenzhou Municipal Committee (CCPIT Wenzhou), and National Bank of Pakistan Representative Office Beijing.

Talking to the audience, Deputy Head of Mission Ahmed Farooq said that in 2019, Pakistan and China signed the second phase of the Free Trade Agreement under which China will provide zero tariffs access to an additional 313 items from Pakistan, including agriculture and textile products, bringing the total of such products to around 1000.

Commercial Counsellor, Badar uz Zaman told the audience that Pakistan is a country of great potential. Business and industrial sectors are thriving.

Badar mentioned that with the development of the chemical industrial sector, the share of the manufacturing sector significantly increases, contributing more to the overall GDP growth.

Most of the raw materials and intermediates for dyes and pigments, plastic, and fertilizers are being imported. No appreciable progress is possible in the chemical sector without indigenous production of petrochemicals and other chemicals, he said.

"Pakistani government welcomes overseas countries especially Chinese investors to invest and do business in Pakistan", he mentioned.

Chief Representative of the National Bank of Pakistan (NBP) Beijing, Sheikh Muhammad Shriq said that National Bank is ready to provide all kinds of facilities to Chinese enterprises. He also threw light on the investment and financial market in Pakistan as well as the service offered by his bank to the Chinese investors.

Secretary-General of ECCAC Ms. Sun Lili introduced ECCAC and shared the opportunities of industrial cooperation.

At the end of the event, China (Wenzhou) International Pump and Valve Fair signed separate cooperation agreements with Water Supply and Drainage Affiliate of China Construction Metal Structure Association (CCMSA), Tianjin Valve Pump Chamber of Commerce, and Mengcun Hui Autonomous County Youth Entrepreneur Association.

About 120 companies and over 20 associations in China participated in the forum.