‘China is ready to collaborate with all S. Asian countries to build a future of development and prosperity’

ISLAMABAD: China is dedicated to assisting Pakistan in enhancing its manufacturing sector and export capabilities, this was stated by Economic Counsellor of China to Pakistan Yang Guangyuan in Islamabad during China-South Asia Business Council Exchange Symposium held at a local hotel in Islamabad.

“China is ready to collaborate with all South Asian countries, including Pakistan, to build a future of development and prosperity. By capitalizing on the Belt and Road Initiative and CPEC, we aim to enhance the economic stability and regional prosperity of both the regions,” said Guangyuan.

The 2024 China-South Asia Business Council Exchange Symposium hosted by China Council for the Promotion of International Trade (CCPIT) and SAARC Chamber of Commerce and Industry (SCCI) in partnership with the Federation of Pakistan Chamber of Commerce and Industry (FPCCI), aimed to strengthen China-South Asia cooperation under the Belt & Road Initiative and establish a platform for broader business opportunities between South Asian and Chinese enterprises.

Liu Qilin, Chairman of CCPIT Yunnan Sub Council, in his remarks, emphasized the importance of industrial cooperation between China and South Asian countries in advancing green development. “Against the backdrop of growing mutual trust in political affairs and sustained economic cooperation between China and South Asian countries, the China South-Asia Expo stands as a crucial platform reflecting the shared aspirations of the industrial and commercial sectors” said Qilin.

Ashfaq Yousuf Tola, former State Minister, applauded the efforts of the SAARC Chamber of Commerce and Industry (SAARC CCI), the Federation of Pakistan Chamber of Commerce and Industry (FPCCI), and the China Council for the Promotion of International Trade (CCPIT) for organizing the symposium.

“Pakistan offers substantial investment opportunities across various sectors, including agriculture, energy, services, industries, and technology,” stated Tola. “The growing confidence of the investor community is evident from the record-breaking performances in Pakistan’s stock market, reflecting the positive trajectory of our economic policies. I warmly invite Chinese enterprises and digital cooperation manufacturers to collaborate with us on energy management systems, digital economy, and green energy transition plans, he added.

Dr Erfa Iqbal, Additional Secretary, BOI, Pakistan while addressing the symposium emphasized the urgency of bridging the existing gaps. “With CPEC entering its second phase, it’s critical to accelerate our progress. The current challenge lies in the lack of industrialization in Pakistan. We need comprehensive proposals and B2B events from both the government and the private sector to achieve tangible results.”

Qurat Ul Ain, Vice President, FPCCI, elaborated on the critical role of industries cooperation in this context. “China, as a leading advocate for green development, has made significant strides in renewable energy, promoting circular economy practices, and investing in eco-friendly technologies,” she stated.

The symposium was followed by b2b meeting with Chinese Investors focusing on industry cooperation for green development between China (Yunnan) and South Asian countries, and a briefing on the 8th China-South Asia Expo scheduled to be held in Kunming, China.

Copyright Business Recorder, 2024