A delegation of Lahore Chamber of Commerce and Industry (LCCI) led by its President Sheikh Muhammad Arshad on Wednesday visited the Chinese Consulate in Lahore and had a detailed discussion with the Chinese Consul General Yu Boren regarding two-way trade, investment and visa facilities for the businessmen.
LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed while congratulating the Chinese Consul General and other Chinese officials said that opening of Chinese Consulate in Lahore is a big breakthrough as it would facilitate the Punjab based businessmen whose visa requirements would be met with the opening of this new office.
Sheikh Arshad said that China is a time-tested friend and a very important partner in Pakistan Economic Development and bilateral trade. The involvement of Chinese enterprises, both in terms of technical and financial assistance in several development projects is reflective of our cordial relations based on mutual trust and sincerity.
China is one of the largest trading partners of Pakistan and it is expected that bilateral trade between Pakistan and China will touch the figure of US 15 billion dollars within the next few years. Although Pakistan's exports to China have been gradually increasing, trade has always been in favour of China. Almas Hyder said that due to excellent economic policies of China and the hard work of Chinese leadership, China has become a big economic force in the world. He invited the Chinese businessmen to invest in Pakistan in priority sectors including oil and gas, mining, infrastructure, power (coal, hydel, gas based), IT & telecom, glass, polymers, value added textile manufactures, engineering goods, textile machinery, electronics, automotives, agricultural & agro based Industry, pesticides, cool chains, food & fruit processing and packaging, livestock and dairy farming.
Nasir Saeed said Pakistan because of its strategic location could be a more suitable destination for Chinese investments. Pakistan is offering liberal investment policies allowing 100 percent foreign equity and equal treatment to local and foreign investors.
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