LAHORE: The Chinese Consul General in Lahore Zhao Shiren has paid a special visit to the Lahore Chamber of Commerce and Industry (LCCI) to congratulate its newly elected President, Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry and the Executive Committee members.
LCCI President Mian Abuzar Shad warmly welcomed the Chinese Consul General and highlighted the importance of the longstanding partnership between the Chinese Consulate and LCCI. Vice President Shahid Nazir Chaudhry, Executive Committee members Khurram Lodhi, Ahad Amin Malik, Syed Hassan Raza, Irfan Ahmad Qureshi, Asif Malik, Karamat Ali Awan, Amir Ali, Shouban Akhter, Syed Salman Ali, Ahsan Shahid, Ali Imran and Moneeb Monnoo also spoke on the occasion.
Chinese Consul General Zhao Shiren expressed his appreciation for LCCI’s dynamic leadership and conveyed optimism about fostering stronger ties between the two institutions and acknowledges the role of LCCI President Mian Abuzar shad. He thanked President Mian Abuzar Shad for the warm reception and assured continued collaboration between the Chinese Consulate and LCCI.
He underscored the Consulate’s efforts to promote engagement between Chinese delegations visiting Punjab and LCCI, as well as facilitating interactions with Chinese companies operating in the region. The Consul General also announced plans to enhance support for Chinese language courses through LCCI to improve communication and business relations.
The Consul General proposed organizing awareness sessions on Pakistan-China relations, similar to LCCI’s existing economic and policy advocacy initiatives. He assured the Consulate’s full cooperation in holding such events and emphasized the importance of showcasing the positive narrative of the China-Pakistan Economic Corridor (CPEC) and exploring new avenues for collaboration.
The Chinese Consul General Zhao Shiren said that Chinese government is doing all out efforts for a balanced trade with Pakistan and to create more opportunities for Pakistani exporters.
Zhao Shiren said that bilateral trade has seen substantial growth, with the trade volume reaching $16.2 billion in 2023-24. He assured the participants that China is keen on narrowing the trade deficit by encouraging imports of Pakistani products.
The Consul General reiterated China’s intention to foster stronger business-to-business (B2B) links and promote public-private partnerships for mutual economic benefit. He expressed optimism that enhanced collaboration under initiatives like the China-Pakistan Economic Corridor (CPEC) would lead to a more balanced and prosperous trade relationship.
LCCI President Mian Abuzar Shad expressed gratitude for China’s unwavering support for Pakistan, particularly during challenging times. He acknowledged China’s assistance in stabilizing Pakistan’s economy, including the rollover of loans and emphasized the importance of addressing the trade imbalance that heavily favours China.
Sharing trade statistics, he said that bilateral trade between Pakistan and China has increased from $11.7 billion in 2022-23 to $16.2 billion in 2023-24. Imports from China reached $13.5 billion, while Pakistan’s exports to China rose to $2.7 billion. He also talked about the potential for Pakistan to export more products to China, particularly in sectors such as textiles, halal food and other value-added industries and stressed the need for maximizing the benefits of the Free Trade Agreement (FTA). He said that there is vast scope in Pakistani sectors like textiles, halal food, and agriculture.
LCCI Vice President Shahid Nazir Chaudhry underlined the importance of diversifying Pakistan’s exports to China. He mentioned items like coal, medicines, surgical instruments, corn, fresh fruits and salt as potential products that could be exported. He stressed the need for regular trade delegations to enhance B2B connections and assured LCCI’s full support in facilitating such initiatives.
Consul General Zhao Shiren also highlighted the achievements of Punjab Chief Minister Maryam Nawaz’s recent visit to China, during which over 5 MoUs were signed. These agreements focus on areas such as smog control, environmental protection, agriculture and technology and are expected to yield productive outcomes for both regions.
Copyright Business Recorder, 2024
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