A delegation of Chinese manufacturers and assemblers of automobiles including heavy duty trucks, engines, auto parts and tyres visited Islamabad Chamber of Commerce and Industry and showed interest to set up auto manufacturing plants in Pakistan.
The delegation was representing about 500 auto companies of China including Jinan Zhongzhan International Trade Col. Ltd, Jinan Bonaite Trading Co. Ltd, Hebei Xinjiu Heavy Duty Machinery Makes Co. Ltd., Sinotruk, Shanghai Cheezmail E-Commerce Co Ltd., and others.
The delegation members said that they were representing 500 automobile companies of China that were producing EU standard vehicles and were interested to explore business opportunities for vehicles, engines and auto parts in Pakistan as it was a potential market for automobile sector.
They said initially they were interested in finding local partners for supply of automobiles and auto parts in Pakistan and on successful operation of business, they would try to set up auto manufacturing plants and bonded warehouses through joint ventures and investment in Pakistan. The delegation members said they also wanted to share their technical know-how and expertise with Pakistani manpower in this field. They also agreed to organize a seminar at ICCI to create awareness in the local business community about their auto products and prospects of business collaborations with them.
Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry informed the Chinese entrepreneurs that heavy duty trucks and vehicles have huge scope in Pakistan as road freight transportation contributed over 90% of the goods transported by land. He said many industrial zones would be established in Pakistan under CPEC due to which demand for heavy duty trucks and loading vehicles would gain new momentum. He said it was the right time for Chinese automobile sector investors to set up vehicle and auto parts manufacturing plants in Pakistan through joint ventures.
He said a strong middle class was rising in Pakistan and Chinese investors should also focus on meeting its needs by producing less than 1000 cc cars in Pakistan. He stressed the need of developing strong business linkages between the auto sector SMEs of Pakistan and China as they have great potential for growth in Pakistan.
Muhammad Naveed Senior Vice President and Nisar Mirza Vice President ICCI also spoke at the occasion and assured that ICCI would facilitate the Chinese investors in connecting with right partners in Pakistan.