KARACHI: Member of the advisory council, Zubair Tufail has said that there has been significant progress in Pakistan-China trade relations and China has agreed to revise the Free Trade Agreement.

An Advisory Council of 20 major exporters under the leadership of Caretaker Minister of Commerce Gohar Ijaz reached Pakistan after completing their visit to China.

Former president of Federation Chamber of Commerce and Industry (FPCCI) and member of the advisory council, Zubair Tufail, who is part of the delegation, told the media after reaching Karachi that the visit to China was very successful and China is ready for new investment in Pakistan. In the auto, mineral, agricultural sectors, China is preparing to invest, while it was agreed to start joint ventures in other sectors, including textiles. In addition, China’s technology will be transferred to special economic zones in Pakistan.

Zubair Tufail said that the visit will speed up the trade relations between Pakistan and China and investments are moving towards Pakistan.

He said that Chinese President Xi Jinping has given a unique gift of CPEC to Pakistan, bringing together the businessmen of both countries, the BRI vision of President of the People’s Republic of China is being pushed forward and in this context. Chinese industrialists will increase trade with Pakistan and for this purpose, business-to-business meetings were organized between the Pakistani delegation and Chinese industrialists, which were very successful.

Zubair Tufail said that China’s automobile sector will invest in Pakistan, which has been decided.

Copyright Business Recorder, 2023