KARACHI: Consul General of China Yang Yundong, while responding to President Karachi Chamber’s suggestion, stated that China’s Small & Medium Enterprises (SMEs) account for 70 to 80 percent of GDP so it was in a perfect position to help Pakistan develop its SME Sector.
In addition to developing the SME sector, a host of other areas also exist where the business communities of the two countries can collaborate with each other for furthering the existing trade and investment relations but in order to attract more and more Chinese companies to Pakistan, security, as well as, political situation has to be improved, he added while exchanging views with Karachi Chamber’s delegation led by its President Mohammed Tariq Yousuf at a meeting held at Chinese Consulate in Karachi.
KCCI delegation also comprised of Senior Vice President Touseef Ahmed, Vice President Mohammad Haris Agar and Chairman Diplomatic Relations & Embassies Liaison Subcommittee Zia ul Arfeen.
Chinese Consul General, while highlighting the bustling activities under China-Pakistan Economic Corridor (CPEC), stated that this project was making significant contributions to promoting Pakistan’s economic and social development, enhancing people’s well-being, and deepening people-to-people affinity and regional connectivity between China and Pakistan.
Vowing to expand comprehensive cooperation and deepening China-Pakistan friendship, he assured to broaden the scope of cooperation and continuously enhance cooperation in industries, agriculture, maritime, science and technology.
He informed that for the first time, Pakistani seafood was recently transported via land along the CPEC to Kashgar, Xinjiang and Chinese companies have actively carried out cooperation in chilli peppers and canola in Sindh Province.
While welcoming KCCI’s suggestion pertaining to sending trade delegations to China, the Envoy assured full support and cooperation to businessmen and industrialists looking forward to enhancing trade and investment ties with their Chinese counterparts.
President KCCI Tariq Yousuf, in his remarks, underscored the need for having some kind of collaboration between Pakistan and China for the development of SMEs in Pakistan. “It has been observed that the Government-to-Government interactions between the two neighbouring countries usually remain confined to mega projects only; hence, it is very important to pay equal attention to the SME sector as well which plays the role of a backbone in any economy.”
He also sought China’s assistance in further improving manufacturing capabilities of Pakistan’s engineering sector and the agricultural yield. “China should help Pakistan adopt latest techniques and also share the agricultural know-how which would certainly help us in improving our per acre production by at least five times.”
Highlighting the huge potential for joint ventures in solar energy sector, he opined that keeping in view the rising energy prices, the business communities of the two countries can collaborate with each other for the production of solar panel and allied equipment in Pakistan. “With a population of 240 million, of which a sizeable portion represents the middleclass, Pakistan is an important market having the appetite of swallowing anything which is produced through joint ventures in Pakistan”, he added.
While underscoring the need for value-addition in the textile sector, he stressed that the Chinese companies can also join hands with Pakistani textile producers for adding value to textile products as the country has not been able to add much value to its products which, if done, would certainly fetch more foreign exchange through greater exports.
Tariq Yousuf, while highlighting the need for technology transfer, said “We have been importing huge quantities of spare parts, particularly those being used in motorbikes; hence, Chinese businesses from the engineering sector should look into setting up their units in Pakistan which would be more profitable keeping in view the widespread use of motorbikes all around Pakistan.”
He was of the opinion that although Pakistan and China have been enjoying excellent relations since many decades but the same was not reflecting in trade. He said thus collective efforts and interactions have to be intensified so that the existing trade volume between the two countries could be taken to new heights.
President KCCI further requested Chinese Consul General to look into the possibility of providing small pavilions to Pakistani exhibitors in various trade fairs and exhibitions taking place in China so that Pakistani made products could be exposed to the world through these fairs regularly taking place in China.
While warmly welcoming Chinese projects in Gwadar under CPEC, President KCCI invited Chinese companies to take interest in Dhabeji Special Economic Zone near Karachi which would prove more feasible for their businesses because of its location near Karachi which is the financial, industrial and commercial hub of Pakistan.
Copyright Business Recorder, 2023