A Sichuan province-based Chinese delegation, which consists of 8 members, is interested to invest in the auto-manufacturing sector of Pakistan.
They were invited by the President of Pak-China Joint Chamber of Commerce and Industry (PCJCCI). The delegation will oversee joint venture activities in the automobile industry, building infrastructure and town planning.
The delegation included Chinese officials Gaoqiang, Xu Yingliang, Cao Wei, Yang Yongang, and Cao Zaiqiang.
The president, SM Naveed, along with Vice President, Rana Mehmood Iqbal, briefed the Chinese officials about the increasing demand for innovative and efficient vehicles, their accessories, and vertical buildings in Pakistan. He added,
The automotive industry in Pakistan is one of the fastest growing industries in the country, accounting for 4% of GDP and employing a workforce of over 1,800,000 people. With the growing demand for automobiles, demand for the car accessories has also increased.
Gaoqiang, the head of the delegation, said that they aim to join hands with Pakistan in the manufacture of mechanical accessories, electronic accessories and electric motor parts and their accessories.
He added that there are extensive and high-end facilities and factories in China which can be relocated to Pakistan to meet the increasing demand for these accessories and parts.
In order to boost the competitiveness and the quality of vehicles in Pakistan, China is keen and willing to invest huge sums in Pakistan’s auto industry as the market has a lot of potential, he assured. It is expected that it will take 2-3 years to relocate and put together a manufacturing plant in Pakistan.