Pak-China ‘exchange investment missions’ agreed

KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and China’s Tianchen Engineering Corporation (TCC) have agreed to set up "exchange investment missions" to bolster bilateral trade relations, a statement said on Wednesday.

“With the help of its vast experience and expertise, the TCC would like to invest in Pakistan to enhance the investment opportunities, while China is already extending cooperation in different sectors in Pakistan,” said Ms Li-Jial, director TCC, during a meeting at the FPCCI headquarters.

“Both nations enjoy close and friendly ties since the establishment of the bilateral trade and investment ties,” said she.  Zubair F. Tufail, President FPCCI, told the Chinese industry official that Pakistan gives great importance to its relations with China as the latter is an important friend of the former.

“Chemical manufacturers are not fully aware about the investment opportunities,” said Tufail. He added the TCC, having a great experience in oil refining sector, should guide Pakistani industrialists about energy sectors, chemical complexes, and other projects to explore investment opportunities. 

He urged them to identify the areas to discover the new locations for investment in Karachi. “In this regard, the FPCCI has discussed with the government to earmark 500-1000 acres of land for the establishment of separate port near Karachi, including chemical complexes,” said the FPCCI chief.

Moving ahead, Tufail assured the Chinese business delegation of the full support from the chamber as well the government. “I would like to invite the TCC delegations to sign memorandums of understanding (MoU) with the FPCCI for enhancing investment relations between two countries,” said the head of the trade body.