Chinese investors urged to explore opportunities in Infrastructure, Telecommunications

Islamabad, June 06, 2012 (PPI-OT): Haji Fazal Kadir Khan Sherani, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has invited Chinese investors to explore further opportunities for investment and joint ventures in telecommunications, and the upgradation and expansion of infrastructure in Pakistan.

He was speaking during a session on “Innovative Ideas for Trade and Investment,” being held as part of the 7th China South Asia Business Forum in Kunming, China, which an 80-member FPCCI delegation, constituting prominent businessmen from across the country, is currently attending.

While recounting the history of Sino-Pak relations, he reminded the audience that in 1950, Pakistan was among the first non-Communist states which accepted China’s independence as a sovereign state. In this regard, Pakistan was also the first among Muslim countries to do this. Ever since the establishment of formal trade ties, trade has increased steadily, while the signing of the Pak-China FTA in 2008 was an important milestone in this regard.

The existing trade between Pakistan and China is approximately US$10.5 billion. Much of this figure is Chinese exports to Pakistan; even though Pakistan’s exports to China have also increased. However, there is still a large trade deficit, which was almost US$6 billion in 2011.

He pointed out China’s unforgettable role in assisting Pakistan with major infrastructure projects , including , the Karakoram Highway, Pakistan Aeronautical Complex (Kamra), Saindak Metal Project, Heavy Mechanical Complex, Heavy Foundry Project, Guddu Thermal Power Station, Jamshoro Power Station, Chashma Nuclear Power Plant, Ghazi Barotha and the Indus Highway.

He also expressed hope that China would further assist Pakistan in the field of infrastructure. In this regard, he said that the further expansion and up-gradation of Gwadar Port and the Karakoram Highway were particularly worthy of attention.

While highlighting Pakistan’s incentives and facilities to encourage foreign investment, he mentioned that mobile phone usage had grown explosively in Pakistan, and he was happy to note that Chinese companies were actively involved in this sector. Recently, a Chinese telecommunications giant had invested US$1.5 billion in Pakistan, which was a very positive development. At the same time, he said that China had introduced the latest technology in packaging, food processing, plastics, computing, mobile phones and electronics appliances assembly in Pakistan, while there were still plenty of opportunities for more investment in these areas.

The President-FPCCI also referred to the Chinese Government’s recent proposal to convert Kashgar city into a Special Economic Zone. He expressed the hope that after the announcement of a tax holiday in Kashgar, which was situated very close to both Afghanistan and Pakistan, the city would become a hub of regional trade, and the entire region would bear the fruits from its ensuing prosperity.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332

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