CAEDA Keen To Collaborate With Pakistan On Range Of Economic Initiatives
Fahad Shabbir (@FahadShabbir) Published October 10, 2024 | 08:40 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 10th Oct, 2024) The China Asia Economic Development Association (CAEDA) here on Thursday expressed interest in collaborating with Pakistan on a range of economic initiatives, including establishment of the "Pakistan Zero-Tariff Trade Zone," and center for Chinese imports, besides exploring opportunities in agriculture, livestock investment, export projects, and B2B investment potential.
The association expressed the interest during a meeting of its delegation with Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal. The CAEDA delegation was led by Qian Qiu Zhu and Jian Jun Guo, according to press release issued by planning ministry.
Welcoming the delegation, Minister Ahsan Iqbal reaffirmed the deep bond between Pakistan and China, referring to the two nations as "iron brothers" with a unique relationship.
He acknowledged the recent tragic terrorist attack in Karachi, which took place two days ago, as an attempt by adversaries to disrupt the China-Pakistan Economic Corridor (CPEC) project.
"The Government of Pakistan is committed to ensuring the safety and security of our Chinese brothers and sisters, who are national guests and heroes contributing to Pakistan’s development," he said.
The Minister assured that such isolated incidents do not reflect the overall situation in Pakistan, emphasizing that hundreds of Chinese nationals work safely in the country, which remains a welcoming and secure destination for Chinese investment.
He highlighted the upcoming phase of CPEC, with a focus on fostering B2B partnerships. He underscored the significant potential for collaboration between Pakistani and Chinese enterprises, aiming to build upon the government-to-government cooperation achieved thus far in establishing essential infrastructure.
He further outlined Pakistan’s long-term Economic Transformation Plan, aimed at encouraging foreign direct investment and boosting exports to address challenges within the economy, particularly in the export sector.
The Minister identified several broad areas for potential cooperation, particularly the reallocation of Chinese industries to Pakistan.
He noted that Pakistan’s labor and production costs were considerably lower than those in China, presenting an opportunity for Chinese enterprises to produce goods in Pakistan for export to markets in Europe and the United States, thereby circumventing high tariffs imposed on Chinese imports.
In addition, Minister Ahsan Iqbal highlighted the opportunities within Pakistan’s agricultural sector, particularly in regions such as Gilgit-Baltistan, where products like cherries can be exported at competitive prices to China.
He emphasized Pakistan’s rich resources in minerals, fisheries, agriculture, and textiles, all sectors where China could collaborate with local investors. He stated that Pakistan seeks advanced technology, modern equipment, and skills from China to elevate these industries further.
Discussing Special Economic Zones (SEZs), Minister Iqbal emphasized the opportunities available to the Chinese business community for investment and development. He committed to supporting Chinese investors and highlighted the significance of a one-stop service center to facilitate matchmaking between Pakistani and Chinese enterprises, enhancing cooperation between the two nations.
Related Topics
Recent Stories
Pakistan beat Australia in ODI series on their home ground after 22 years
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 10 November 2024
Today Gold Rate in Pakistan 10 November 2024
Names of 23 Pakistanis added to PCB for allegedly attacking ex-CJP Isa’s vehic ..
No increase in passport fee, clarifies Directorate of Immigration
Gang-rape suspect arrested in Bhakkar
Lahore tops list of world’s most polluted cities as smog crisis worsens
Birth anniversary of Dr. Allama Muhammad Iqbal today
Section 144 imposed in Rawalpindi amid PTI’s rally in Swabi
Passports Fees-Check complete details here
Pakistan, Australia to face off each other in final ODI tomorrow
24 killed, 50 injured in blast at Quetta Railways station
More Stories From Business
-
FTO directs South Punjab Coordinator to address tax grievance within 60 days
3 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 10 November 2024
7 hours ago -
Today Gold Rate in Pakistan 10 November 2024
7 hours ago -
No change in gold prices
20 hours ago -
Rana Tanveer reviews SME development strategy
20 hours ago -
Gold prices remain stagnant at Ra.278,800 per tola
1 day ago
-
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 9 November 2024
1 day ago -
Today Gold Rate in Pakistan 09 November 2024
1 day ago -
Improving taxes must to sustain long-term growth: Aurangzeb
2 days ago -
Tariq Sadozai assumes charge of energy, power portfolio
2 days ago -
Comprehensive strategy imperative to exploit $100 mln tourism potential: FCCI president
2 days ago -
Two development schemes worth Rs 3.6b approved
2 days ago