President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Engr. Daroo Khan Achakzai has said that the business community of Pakistan perceives China as a time-tested friend and a very important partner in its Economic Development of Pakistan.
He said that the involvement of Chinese enterprises, both in terms of technical and financial assistance in several projects of Pakistan is reflective of our cordial relations based on mutual interest, unstinting confidence and sincerity.
The President FPCCI stated this while addressing the 14th China South Asia Business Forum and the 2nd China South Asia Cooperation Forum organized by Ministry of Foreign Affair of China and China Council for Promotion of International Trade (CCPIT) Yunnan Council at Kunming China.
He further stated that China-South Asia Business Forum was initiated in 2006 as a joint venture between CCPIT and trade bodies of South Asia to promote trade which has now emerged as a strong economic alliance between Chinese and South Asian enterprises. Since starting of the Forum, the China’s export to South Asia has increased to US$ 118 billion from US$ 35 billion while imports from South Asia increased to US$ 22 billion from US$ 15 billion in 2006.
Engr. Daroo Khan said that China’s investment is more important than trade in South Asia, because investment has multi-dimensional positive impacts on Industry, transfer of technology, human resource development and creation of employment opportunities while trade only provides the low cost Chinese goods to South Asian nations.
He further indicated that there are huge potentials available wherein South Asia region can cooperate with China for economic integration, prosperity and utilization of untapped resources. China South Asia Business Forum is a big event of China giving opportunity to South Asian countries to cooperate and collaborate for joint ventures and market their products as the event is attended by approx. 4,000 companies from 74 countries.
The President FPCCI re-emphasized that the Pakistan is viable and most favorable nation for foreign investment and the foreign investors can enjoy the benefits of Pakistan’s business friendly environment policies and high profitability.