Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Guangzhou General Chamber of Commerce (GGCC) on Wednesday signed a memorandum of understanding to strengthen business relations between the two organizations.
FPCCI Regional Chairman and Vice President Ch Arfan Yousaf and GGCC President Xun Zhenying signed the memorandum on behalf of their respective organizations here at the FPCCI regional office.
The MoU is aimed at providing regular facility to FPCCI delegation to attend Canton Fair and establishing long term, sustainable and mutually beneficial cooperation in areas of trade & research, industrial linkages, trainings, delegation and exhibitions, education and employment opportunities between the two chambers.
Speaking on the occasion, the FPCCI vice president said that both the countries have been cooperating in various fields of interest. He said that both Pakistan and China should jointly take steps to establish industrial estates, special economic zones, industrial cluster and cottage industries.
He highlighted the opportunities of investment in energy and value added sectors. Both the countries have been already exploring the prospects of enhanced bilateral cooperation through joint economic projects in the areas such as energy, power, railways, telecommunications and IT under China - Pakistan Economic Corridor, he added. CPEC and business friendly investment policies have turned Pakistan into a best trade and investment destination.
Consul General of Pakistan in People's Republic of China Dr Ali Ahmed Arain said China is Pakistan's largest trading partner in South Asia. Pakistani Consulate General in China is fully focusing on trade promotion and FPCCI will be in loop, he added.
Speaking on the occasion, President Guangzhou General Chamber of Commerce President Xun Zhenying, said Chinese are interested in large scale investments in Pakistan and urged the FPCCI office bearers to provide details about the potential areas in this regard. He stressed the need for introducing Pakistani products in Chinese market and added that FPCCI would be taken on board in this regard.
The President further said there is big potential for leather industry which should be explored. He said exchange of trade delegations and timely dissemination of trade and investment-related information can help boost two-way trade. He said the economic globalization and regional integration has provided enormous opportunities for further cooperation between China and Pakistan.
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