Chinese companies, ICCI to promote trade

Islamabad: A delegation of Shannxi Province of China visited Islamabad Chamber of Commerce and Industry (ICCI) to explore business matchmakings with Pakistani counterparts. The delegation was representing various companies of Shaanxi province including Shaanxi Pharmaceutical Holdings Group Co., Ltd, Shaanxi Coal and Chemical Industry Group Co Ltd, Shaanxi Automobile Group Co.l Ltd and others.

The delegation members said that this was their first visit to Pakistan to study Pakistani market. They showed interest for business matchmakings and joint ventures with Pakistani counterparts in pharmaceuticals, chemicals, automobile, engineering, communication and solar energy sectors. The delegation members stressed for frequent interaction between the private sectors of China and Pakistan to understand each other and establish business collaborations. The representatives of Shaanxi Pharmaceuticals Group said that their company was exporting pharma products to over 200 countries and it wanted to explore business prospects in Pakistan. The representatives of automobile group said they were already supplying heavy trucks to Pakistan and were looking for partners in Pakistan to supply more trucks. The delegation members also invited ICCI members to visit Shaanxi Province to explore business collaborations.

Speaking at the occasion, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that Pakistani pharmaceutical companies were importing raw material from China and India for manufacturing pharmaceutical products. He emphasized that Chinese pharma companies should establish plants of producing raw material in Pakistan that would help in manufacturing pharmaceutical products at competitive prices. He informed the Chinese delegation that many industrial zones would be set up in Pakistan under CPEC and Chinese investors should put up manufacturing plants through joint ventures in areas of their interest in these SEZs. He said Chinese investment in Pakistan would enable them to enhance exports to South and Central Asia, Middle East, Africa and many other markets.

He stressed the need of developing strong business linkages between the corporate sector and SMEs of Pakistan and China so that they could complement each other and achieve mutually beneficial business outcomes. Nisar Mirza Vice President Islamabad Chamber of Commerce and Industry assured that ICCI would play the role of bridge to connect the Chinese investors with right partners in Pakistan.