Next phase of CPEC, SCO can be real game-changers: FPCCI

KARACHI: Atif Ikram Sheikh, President FPCCI, has explained that next phase of China – Pakistan Economic Corridor (CPEC) and Shanghai Cooperation Organization (SCO) can be the real game-changers for the national economy – as we have geographical contiguities; economic complementarities; regional trade advantages and ability to look East & diversify our economic partners

Apprising that a high-profile delegation of The China Asia Economic Development Association (CAEDA) has visited FPCCI to explore investment, joint ventures and trade opportunities in mines & mineral; information technology and IT-enabled services (ITeS); agriculture & livestock; food processing & storage; infrastructure development and renewable & alternative energy sources, he informed that CAEDA is an organization focused on promoting economic cooperation and development between China and countries in Asia; as well as other global partners. CAEDA often works with governments, businesses and international organizations to encourage economic integration and partnerships in sectors like finance, technology, energy, and infrastructure.

Abdul Mohamin Khan, VP FPCCI & Reginal Chairman, said that bilateral trade between Pakistan and China is showing increasing trend since the implementation of the China – Pakistan Free Trade Agreement (CPFTA). Bilateral trade volume between the two countries has surpassed $20 billion, he added.

Shabbir Mansha, Chairman of FPCCI’s Pakistan – China Business Council, stated that currently Pakistan exports cotton yarn, rice, refined copper, fish, chromium ores & concentrates, aluminum, unwrought, dry fruit and ethyl alcohol to China. Whereas, China is the largest source of imports for Pakistan as it imports semiconductor devices; mechanical appliances; synthetic filament; electric apparatus for line telephony; flat-roll products iron; nitrogen fertilizers; engineering goods and hi-tech component for various industrial sectors.

Copyright Business Recorder, 2024