Chinese Firms Take Advantage of Pakistan’s Investment-Friendly Environment
September 13, 2021
Moin ul Haque, Pakistan’s Ambassador to China, invited leading Chinese entrepreneurs to visit Pakistan and take advantage of the country’s conducive and investment-friendly environment, as well as a number of government incentives. “A number of continuing and planned CPEC projects provide massive investment opportunities for Chinese companies,” he said while speaking to participants at the China-Pakistan Trade and Business Forum, which was held on the sidelines of the China-ASEAN Expo in Nanning, China’s Guangxi Region.
He stated that Pakistan’s geographical location, growth potential, and conducive policies offered by the government make it an appealing destination for overseas investment, particularly for Chinese enterprises. He stated that Pakistan shares borders with China and that the country is located at a crossroads of South Asian, Central Asian, and Western nations, with the potential to serve as a bridge. Pakistan has a population of 220 million people, a rapidly growing middle class, and 60 percent of its young population offers promising prospects.
Pakistan is abundant in natural resources such as gold, marble, gemstones, copper, chromites, gold, and vast reserves of oil and gas. Ambassador Haque informed the businessmen that Pakistan has a strong agricultural base and fertile land, and that it ranks among the top ten countries in terms of cotton, sugarcane, rice, and wheat production. With Chinese investments in the agricultural sector, it has the potential to become a major food supplier to the Chinese market. He stated that the current government provides very appealing and liberalized policies for foreign investors, as well as allowing them to export their goods to other countries.
He stated that the business and investment forum was organized as part of the celebrations of Pakistan and China’s 70th anniversary of diplomatic relations. Ambassador Haque also thanked China for inviting Pakistan as a special partner country to the China-ASEAN Expo for the second time. He stated that the Pakistan Pavilion, which will be set up in the expo’s exhibition area, will lead to further expansion of trade and business cooperation between Pakistan, China, and other ASEAN countries. In terms of Pakistan-China trade, he stated that it is rapidly expanding. China is now Pakistan’s largest trading partner.
With the launch of the second phase of the China-Pakistan Free Trade Agreement last year, various goods from both countries now have access to each other’s markets. Pakistan’s exports to China increased by 88 percent in the first half of this year, while our bilateral trade with the Guangxi region increased by 50 percent over last year, and exports to Guangxi increased by 350 percent.
A video link was used to sign an MOU on Friendly Cooperation with the CAEXPO Supporting Chamber of Commerce of Special Partner Country and an agreement on the Pakistan Pavilion of the China-ASEAN Mercantile Exchange. A video about the two countries’ achievements in bilateral cooperation over the last seven decades was also shown.