Chinese Consul General advocates enhanced business ties and investments in Punjab

Consul General Zhao Shiren emphasized the potential for elevated trade between Pakistan and China through enhanced collaboration in various economic sectors, particularly in Punjab, under public-private partnerships. He highlighted the role of the Chinese Consulate General in bridging the gap between the two nations.

Zhao expressed intentions to strengthen ties with Chinese counterparts, trade bodies, and chambers to promote bilateral trade and increase Chinese investment in Punjab’s tourism sector.

Addressing office-bearers and members of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Zhao stressed the need for Pakistan to improve security, implement tax reforms, and enhance infrastructure, electricity, and gas facilities to attract more investment. He also mentioned plans to initiate training programs in collaboration with the Technical Education & Vocational Training Authority (TEVTA).

FPCCI Regional Chairman Zaki Aijaz and Vice President Zain Iftikhar Ch underscored Pakistan’s attractiveness for foreign investors, particularly in Punjab’s Special Economic Zones (SEZs), which offer incentives. They highlighted the potential of the China-Pakistan Economic Corridor (CPEC) in transforming the region and emphasized the shift towards fostering business-to-business (B2B) cooperation rather than government-to-government (G2G) collaboration.

Aijaz proposed inviting Chinese enterprises to Pakistan, leveraging the country’s Generalized System of Preferences (GSP) plus status and existing Free Trade Agreements (FTAs) with various nations. He emphasized addressing overcapacity challenges through joint ventures, seeking technology transfer, technical training, and Chinese language skills to enhance collaboration effectively.