Business community terms Wen's visit 'very successful'

The business community on Sunday termed the Chines Primer, Wen Jaibao's Pakistan visit as very successful, particularly in terms of enhancing economic and business ties between the two friendly countries.
Pakistani businessmen attach great importance to the visit and the out come of Pak-China Business Cooperation Summit, Vice President of SAARC Chamber of Commerce and Industry and former FPCCI President Iftikhar Ali Malik said.
He said that as many as 110 trade bodies and 40 chambers participated in the forum to explore business and investment opportunities adding that feasibilities regarding the investment and trade opportunities were made during the summit. He said that the summit would have long-drawn positive impact on the country's economy.
He, however, stressed the need for utilising country's huge labour forces by introducing it to Chinese markets besides attracting investments into the country by offering low labour wages. It may be recalled that Pakistan and China inked 22 agreements and Memoranda of Understandings (MoU) of 15 billion dollars at the Pak-China Business Cooperation summit. The agreements and MoUs were related to development of energy sector, promotion of trade, exploration of natural resources and development of agriculture, livestock, finance and banking sectors.
President FPCCI, Sultan Ahmed Chawala, said that people of Pakistan, particularly business community would never forget the co-operation extended by the Chinese businessmen for the economic development of the country. He said that the Pak-China business co-operation summit would be helpful for further enhancing trade ties adding that business communities of both the countries inked agreements worth $15 billion on Saturday. Chawala termed the trade deals as remarkable achievement and expressed the hope that business and trade between the two countries will keep on increasing in future.
Advisor to Prime Minister on Textile Mirza Ikhtiar Baig said that Pakistan has great opportunity to become venue for Chinese investments. He said that China has already established markets, networks and brands and investments in Pakistan would give it another advantage of low productivity cost.
Meanwhile, Chief Executive Officer (CEO) Trade Development Authority of Pakistan (TDAP) Tariq Puri while commenting on the summit said that trade between the two friendly countries would be enhanced up to $10 billion in next two years and $15 billion by 2015. He said the there was great scope for enhancing trade between the two friendly countries adding that the current business summit would definitely pave way for increasing it. He said that about 150 counterpart companies of different sectors of the two countries engaged in consultations in the forum, exploring opportunities and possibilities for future investments and exports.