Pak-Hong Kong business ventures in various sectors urged

Karachi: Muhammad Saeed Shafiq, President Karachi Chamber of Commerce & Industry (KCCI) has said possibilities of joint ventures between Pakistan and Hong Kong exist in fisheries, ports and shipping, container terminal operations and trading in cotton, yarn and textile sectors.

He said this while meeting Pakistan-Hong Kong Business Forum delegation at his office on Wednesday.

While sharing his views with the President, Pakistan Hong Kong Business Forum (PHBF) Khawaja Riffat Zaheer, Shafiq underscored the need of mutual cooperation and exchange of trade information between KCCI and PHBF.

He said Pakistan suffered colossal losses in the war against terror and it is the need of hour to invite international investment to generate employment especially for youth. He informed that KCCI had planned to encourage youth for self-employment and entrepreneurship.

He extended invitation to the Pakistan-Hong Kong Business Forum and its members to participate in KCCI’s “My-Karachi, Oasis of Harmony Exhibition 2011”.

President PHBF informed Shafiq about the business forum which was established in 2004 being recognized by SECP. He informed that aim of Pak-Hong Kong Business Forum is to promote, develop and encourage business and friendly relations between the business and industrial communities of two countries and to stimulate investment from Hong Kong to Pakistan through extensive interaction. He highlighted that Pakistan and Hong Kong have been enjoying historically excellent relations; however the interaction in economic sphere is not commensurate with its immense potential. President-PHBF said that Pak-Hong Kong trade relations can be exponentially advanced through joint ventures and investment cooperation.

M. Iqbal Mangrani, former Vice President Pakistan Hong Kong Business Forum said PHBF was working on multi-pronged strategy to increase bilateral trade and investment and acts as a focal point of contact. He said that PHBF is playing a proactive role in establishing contacts between businessmen of both countries, however, for optimum results, the forum was underway to broaden portfolio of its members and likewise, he added that they seek cooperation and support of KCCI.

Junaid Esmail Makda, Vice President-KCCI stated that KCCI, being the premier and leading chamber, has the members maintaining businesses with their counterparts at Hong Kong so KCCI & PHBF can join hands for effective mutual cooperation.

President-KCCI assured the President PHBF best support possible to enhance Pakistan-Hong Kong bilateral trade. It was also agreed that both organizations will share their respective website links and relevant information will be disseminated to their members.

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