The private sector of Pakistan and China made Saturday's B2B meeting a great success by identifying key areas ranging from agriculture to banking for multiplying trade and investment in the two countries in next five years. Both countries major business tycoons and leading firms from all key sectors of the economy participated to make the show a big show indeed.
Pakistan's private sector, led by the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) for B2B with Chinese visiting over 250 businessmen shared experiences and successes and worked out a future action plan for taking benefit of each other's advantages.
FPCCI and China Business Council reaffirmed commitment to do the best to help each other come up with more benefit on economic front to help the two countries add substantially in their bilateral trade. They selected agriculture, engineering, oil and gas, banking, electronic, steel, refining and other areas for more trade as well as investment in these areas.
FPCCI had made special arrangements for timely participation of Pakistani businessmen in B2B meetings. Its committee, comprising Iftikhar Ali Malik, Zubair Ahmed Malik and A Hamid Chadda, co-ordinated to make the show a success.
B2B meetings between Chinese and Pakistani businessmen concluded here at an extremely positive note that both countries private sector will help each other in all important areas of the economy and Chinese businessmen and investors will introduce modern technologies to help Pakistan have more growth in key areas such as agriculture and human resources.
Chinese private sector also signed memorandum of understanding (MoU) with Pakistani counterparts in introducing hybrid rice and cottonseed. China's private sector will also help Pakistan introduce modern technology in engineering and electronic sectors. The private sector of the two countries will also cooperate with each other in exploiting the natural resources. Chinese companies will invest billions of dollars in Pakistan's oil and gas sector to increase its oil and gas production to meet rising demand in the next five years.
FPCCI and China Business Council will provide three offices in each country to have close co-operation and facilitate private sector of the both countries. "We have great success in B2B and its going to have a clear roadmap for the private sector of the two countries for future co-operation to enhance two-way trade, besides substantially adding to investment between the two countries," former FPCCI president Iftikhar Ali Malik said.
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