Chines companies keen in joint ventures with Pakistani companies

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ISLAMABAD: A delegation of Chinese companies led by Jia Jiqing, Director, Division of Asian Affairs, Department of Commerce of Shandong Province of China visited Islamabad Chamber of Commerce and Industry (ICCI) and expressed interest in joint ventures and investment in Pakistan to manufacture aluminum products, solar energy products, automobiles and agricultural machinery.

Speaking at the occasion, the representatives of Chinese companies said this was their first visit to Pakistan to explore business opportunities in Pakistani market.

They said in the first phase, they were looking for partners to introduce their products and in the second phase, they would like to enter into joint ventures and investment in Pakistan.

The representatives of Shandong Haitian Seven Color Panel Company Limited said their aluminum products were popular in more than 30 countries and regions including UAE, Singapore, India, Indonesia, Russia, Nigeria, Egypt, Brazil and European countries and now they were focusing on Pakistan for their products.

The representatives of other companies also gave detailed briefing about their products and said they were looking for partners in Pakistan to introduce their products. They sought the cooperation and support of ICCI in realizing these objectives.

They also invited ICCI delegation to visit Shandong province and explore business collaborations in China. They said business partnerships between the private sectors of China and Pakistan would also further strengthen bilateral trade and economic relations between the two countries.

Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce & Industry said under CPEC, 9 Special Economic Zones would be established in the country.

He said that the Government of Pakistan offered tax holiday and other attractive incentives to Chinese entrepreneurs for joint ventures and investment in these Special Economic Zones (SEZs).

He urged that companies of Shandong should transfer technology and set up joint ventures and investment in these SEZs. He said by investing in Pakistan, Chinese investors could meet the needs of Pakistani market and export to South Asia, Middle East and many other regions.

He said many construction projects have been started in Pakistan and manufacturers of construction products have great scope for business in our market. He said many other sectors of Pakistan’s economy including agriculture and automobile offered great investment opportunities to foreign investors and stressed that more Chinese investors should explore Pakistan for joint ventures and investment in areas of interest.

He assured that ICCI would fully cooperate with Shandong companies in establishing business collaborations in Pakistan.—APP

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