Planning Minister Ahsan Iqbal Tuesday urged Pakistani businessmen to explore and tap into the vast opportunities offered by the Chinese market, highlighting China’s annual imports worth $2.7 trillion compared to Pakistan’s modest share of $3 billion.
The minister made these remarks during a meeting with 35 Chinese enterprises and Pakistani business houses to explore opportunities for enhanced bilateral cooperation and mutual growth. The meeting aimed to solicit input and proposals for strengthening business-to-business partnerships, a key focus of CPEC’s 2nd phase.
The minister highlighted the significant progress made in infrastructure development until 2018, with approximately $25 billion invested in diverse projects nationwide. He acknowledged the slowdown in CPEC projects post-2018 due to political transitions but emphasized the government’s renewed efforts since April 2022.
He emphasized the importance of collaborative efforts to maximize productivity and set actionable agendas, recognizing the invaluable contributions of Chinese enterprises to Pakistan’s development. Despite economic challenges during 2018-2022, rigorous efforts have stabilized the economy and restored investor confidence, as evident in the Karachi Stock Exchange’s record-breaking performance, added.
The planning minister stressed the significant opportunity for Pakistani businesses to integrate into China’s global supply chain, fostering trade and enhancing economic resilience for both nations.
He emphasized the need for regular meetings to address pending issues promptly and reaffirmed Pakistan’s dedication to enhancing support for Chinese investors. He directed the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to establish a specialized quality control mechanism to verify the credibility of Pakistani businesses for potential Chinese partners.
He commended all Chinese investors in Pakistan, referring to them as “Heroes of Pakistan”, and assured the government’s unwavering commitment to safeguarding their interests and facilitating conducive business environments throughout the country.
