China’s CAEDA expresses interest in establishing ‘Pakistan Zero-Tariff Trade Zone’ as a delegation met with Pakistan’s Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal.
The China Asia Economic Development Association (CAEDA) showed interest in partnering with Pakistan on various economic projects, including creating a “Pakistan Zero-Tariff Trade Zone.”
The delegation, led by Qian Qiu Zhu and Jian Jun Guo, met with Pakistan’s Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, on Thursday. They discussed setting up a service center for Chinese imports and explored opportunities in agriculture, livestock, export projects, and B2B investment.
Minister Ahsan Iqbal Welcomes the Delegation
Minister Ahsan Iqbal warmly welcomed the delegation, reaffirming the strong bond between Pakistan and China, referring to them as “iron brothers.” He also condemned the recent terrorist attack in Karachi, stating it was an attempt to disrupt the China-Pakistan Economic Corridor (CPEC) but reassured that Pakistan is committed to ensuring the safety of Chinese workers and investments.
He emphasized that despite isolated incidents, Pakistan remains a safe and welcoming country for Chinese nationals, with many working without issues. The Minister highlighted the next phase of CPEC, which will focus on strengthening business-to-business partnerships between Pakistani and Chinese enterprises.
Ahsan Iqbal also discussed Pakistan’s long-term Economic Transformation Plan, designed to attract foreign investment and boost exports, particularly by relocating Chinese industries to Pakistan. He noted that Pakistan’s lower labor and production costs make it a favorable location for Chinese companies looking to export goods to Europe and the U.S., avoiding tariffs on Chinese imports.
He further emphasized the potential within Pakistan’s agricultural sector, especially in areas like Gilgit-Baltistan, which can export products like cherries to China at competitive prices. Pakistan’s resources in minerals, fisheries, agriculture, and textiles were also highlighted as areas where collaboration with China could be fruitful.
Iqbal stressed the importance of acquiring advanced technology and skills from China to help modernize these sectors. He also discussed opportunities within Pakistan’s Special Economic Zones (SEZs), encouraging Chinese investment and development. The Minister emphasized the need for a one-stop service center to facilitate cooperation and investment between Pakistani and Chinese businesses.
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