China’s Hunan Province delegation interested for JVs, investment in Pakistan

Observer Report

Islamabad

A delegation of China Council for Promotion of International Trade (CCPIT) led by its Vice President Wu Dengguo visited Islamabad Chamber of Commerce & Industry and showed interest in exploring opportunities of JVs and investment in Pakistan.
The representatives of Hunan Federation of Industry and Commerce, Hunan Provincial Department of Research, Hunan Provincial Department of Science & Technology, Hunan Provincial Commission of Development and Reforms, Hunan Provincial Commission of Agriculture and others were in the delegation.
Speaking at the occasion, Wu Dengguo, Vice President of CCPIT said that the purpose of the visit of Hunan Province delegation was to explore business prospects in Pakistan and find out areas that offered good opportunities of collaboration between the business sectors of both countries. He said that Hunan Province has a population of 70 million people and was a big market for Pakistani products. He Hunan Province was famous for fish, rice, manufacturing of super computers, construction machinery, maritime and energy equipment, automobile & parts and stressed that Pakistani companies should focus on promoting cooperation in these areas with the counterparts of Hunan Province.
Yang Guan Glin, Vice Chairman, Hunan Federation of Industry and Commerce said that some companies of Hunan Province of China were already doing business in Pakistan and more were interested for JVs and investment in Pakistani market. He said issues like lack of information about trade laws and regulations of both countries should be addressed to promote bilateral trade and economic relations up to the real potential of both sides.
He said that his Federation has 200,000 members in Hunan Province and invited ICCI delegation to visit Hunan for exploring business matchmakings.
In his welcome address, Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry said that CPEC offered great opportunities of business collaboration to the private sectors of Pakistan and China and efforts should be made to exploit these prospects. He said Chinese companies should bring in technology and machinery and set up JVs in the Special Economic Zones of Pakistan being set up under CPEC. He assured that ICCI would fully cooperate with CCPIT in promoting business linkages between entrepreneurs of both countries.
Rafat Farid, Senior Vice President ICCI said that Young Entrepreneurs Forum of ICCI and China Young Entrepreneurs Association have established good rapport and young entrepreneurs of both countries should be fully supported and facilitated in establishing long-term and sustainable business partnerships that would further strengthen the trade and economic relations between Pakistan and China.

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