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Linkage of Gwadar Port with Karakorum Highway will multiply Pakistan exports to China - Salman - 09-24-2013 11:42 AM
Tuesday, September 24, 2013 - Karachi—Ma Yaon, Consul General of China has said that linkage of Gwader Port with Karakorum Highway will support logistics. Present volume of bilateral trade is $12 Billion; Chinese Exports to Pakistan are $9 Billion while imports from Pakistan are $3 Billion
Exchanging views on his visit to Karachi Chamber of Commerce and Industry he said that establishing direct banking channel between two countries he said that ICBC Bank of China has established its branch in Karachi while Pakistani banks can open their branches in China with the permission of concerned authority.
Consul General of China stated that China and Pakistan are great time-tested friends. Both countries have been committed to develop closer bilateral relations and further broaden their economic engagement for achieving common development. Opportunities for joint ventures in different sector do exist.
So far, China-Pakistani economic and trade cooperation has seen good progress. Pakistan is a safe haven for Chinese investment. Pakistan has very good potential in different fields. China is also giving new face to its industry with sector diversification. China-Pakistan’s trade and economic cooperation has seen good progress.
He hoped that Pakistan’s exports to China will multiply as China is a huge market to showcase brands of Pakistan. Pakistani textile products are also popular in China. Commenting on direct Air connectivity he stated that presently direct flights to Beijing are available only from Islamabad while direct flights to Guang Zhou and Shanghai will start soon. He stated that China holds immense tourist attraction and 20 million tourists visit China every year as the country holds an open tourism visa policy.
The Chinese Consulate General accords maximum consideration to business visas for KCCI members and visa is processed on priority. He informed that Chinese investment in Pakistan was mainly in the mines and energy. Saindak project is the flagship of Pakistan-China Friendship in mines. China has also invested in Energy projects of coal and wind in Pakistan, he said.
Muhammad Haroon Agar, President KCCI while speaking on the occasion said that Pakistan and China can collectively do wonders as the economic and commercial activities are now focusing towards Asia. With enhancement of Pak-China mutual economic and cooperation, regional trade and trading with SAARC, ECO and Central Asian blocs can multiply to manifolds.
Exchanging views with the Consul General of China Excellency Mr Ma Yaou during his maiden visit to KCCI, Haroon Agar urged fresh Chinese investment in energy, infrastructure, metro-railways, mass-transit, dams projects which are direly needed to uplift economy and further strengthen Pak-China friendly relationship and economic cooperation. He said that Chinese cooperation with Pakistan reached high points with substantial investments from China in Pakistani in infra structural expansion, including the noted projects in the Pakistan deep water port in Gawadar and establishment of road and railway link from Gwader till Kasghar via Karakorum Highway.
He added that in view of Pak China Friendship which is deeper than ocean, greater than Himalaya, growth in mutual cooperation is essential to uplift Pakistan’s weakening economy. He said Karakorum Highway is a remarkable example of mutual cooperation and is the symbol of friendship and understanding. More than 11,000 Chinese engineers, technicians and workers are rendering their valuable services in progress and development of Pakistan. He said that Chinese investment in Pakistan increased many folds in key sectors including port development, roads, railways, mobile telephones communication technology, hydro and thermal power, mining, electronics, and nuclear energy.
A large number of Chinese companies are working in Pakistan in oil and gas, IT and telecom, power generation, engineering, automobiles, infrastructure and mining sector. Both countries have Free Trade Agreement and its first phase of five years is completed and negotiations for second phase for the next five years are in process. He urged that FTA should be effectively explored for mutual benefits of both friendly nations. Public as well private sector Pak-China joint ventures are need of time owing to immense investment potential in Pakistan.