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Chinese keen to

invest in Pakistan

ISLAMABAD: The high powered 33-member Chinese delegation of

China Council for Promotion of International Trade (CCPIT) , currently visiting Pakistan , on Saturday, praised Pakistan's economic reforms saying, they are keen " to take full advantage of the deregulated, liberalized and highly transparent market economy of Pakistan."

The Chinese trade delegation led by Vice Chairman, CCPIT, An Chengxin called on Chairman, Board of Investment (BOI), Safdar Abbas Zaidi here to discuss avenues to further expand the trade between the two countries.

An Chengxin said, they were highly impressed by the investment package offered by Pakistan and expressed desire to fully benefit from these reforms.

He said Chinese were keen to invest in metal, power generation, industrial machinery, equipment, electrical machinery, electrical goods, appliances and parts, pharmaceutical products, chemical materials and products, transport vehicles and transport equipment.

While briefing the delegation, comprising, representatives of engineering, construction, shipping, metallurgy, banking and technical cooperation, the Chairman BOI said,Pakistan offered 100 per cent equity, repatriation of profits, dividends and capital.

Its transparent investment-friendly regime, he said, offered a

host opportunities to foreign investors to invest in profitable venture such as a agro-food, chemicals, petro- chemicals, construction, housing energy, tourism industry and infrastructure.

He said that Pakistan was a gateway to Central Asia and bridge between the Gulf, East Asia, West Asia and Far-East and offered a market of 128 million consumers for domestic and export oriented industries.

Zaidi said, Pakistan's expanding infrastructure had thrown open an array of opportunities, which were too difficult to be resisted by foreign investors.

The Chairman BOI said, Pakistan had lots of sector to offer to the foreign investors, including, infrastructure and industrial sector.

He said , over the past two years, Pakistan has attracted foreign investment worth $ 2 billion dollars which was a remarkable feat . Zaidi expressed hoped that considering the trade imbalance, China, in future would further import from Pakistan.

The Chairman BOI said, Prime Minister Benazir Bhutto held China in high esteem as her father, Z.A. Bhutto, was instrumental in strengthening relations between the two countries.

He desired that the delegation would convey message to other investors in China to invest in Pakistan.

An Chengxin said the purpose of the visit was to strengthen mutual contacts and explore more avenues for improving two-way trade.

He commended the economic reforms, taken by the government and said Pakistan's economy was undergoing sound development and along with other Asian economies attracting the whole world.

He said, during the past two years the reforms in Pakistan had show excellent resulted which has accounted for huge foreign investment of $ 2 billion besides contributing to its overall economic growth.

Chengxin said , China had also introduced the open- market reforms which were paying dividends.

Chengxin emphasized the need to explore more ways for mutual benefits as he said the two economies complement each other.

He said , the delegation would encourage more Chinese enterpriser to meet their Pakistani counterparts for promoting trade and bilateral relations.

The Chinese delegation expressed its confidence in continuity of government's economic policies and showed keenness to identify areas of investment.-APP