China and Pakistan have started cooperation under the second phase of China-Pakistan Economic Corridor (CPEC) in industrial and agriculture sectors, healthcare and digital technology, which will boost the South Asian nation’s economy, said Chinese Minister Counsellor (Economic and Commercial) Xie Guoxiang.

During a meeting with a delegation of the Islamabad Chamber of Commerce and Industry (ICCI), he emphasised that Pakistan should focus on improving its infrastructure, which would attract more Chinese investors to Pakistan’s market.

He revealed that the Department of Commerce of Xinjiang Uygur Autonomous Region of China intended to hold an online conference on January 22 to promote trade cooperation between China and Pakistan, which would focus on garment and textile industry, textile machinery and equipment and agricultural products. He urged the Pakistani business community to attend it to explore business collaboration with the Chinese counterparts.

The two sides discussed possibilities of further improving bilateral trade and investment relations. They also talked about signing a memorandum of understanding (MoU) for cooperation between the ICCI and Chinese Capital Chamber of Commerce and Industry to promote business linkages.

Speaking on the occasion, ICCI President Sardar Yasir Ilyas Khan said that Pakistan was a growing market for business activities and it was the right time for Chinese companies to transfer technology, form joint ventures and set up industrial units in Pakistan.

“This way, Chinese investors can export their products to many markets of the world including South Asia, the Middle East, Europe and Africa.” He pointed out that China was the world’s second largest economy with annual trade of trillions of dollars, but Pakistan’s exports to China were around $2 billion.

Published in The Express Tribune, January 13th, 2021.

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