BEIJING: Pakistan Ambassador to China, Moin Ul Haque chaired a virtual meeting with the newly elected leadership of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), as well as the Pakistan-China Business Council (PCBC).
Congratulating the FPCCI’s new leadership team, the Ambassador highlighted the FPCCI’s important role as a platform for Pakistan’s vibrant private sector to contribute to policy making and strengthen overseas economic cooperation.
The Ambassador and his team briefed the participants on Pakistan’s economic diplomacy in China, which had achieved tangible results despite the unprecedented COVID-19 pandemic.
Positive outcomes included the 18 percent year-over-year increase in Pakistan’s exports to China in 2020. The meeting included discussion on opportunities for Pakistani and Chinese enterprises under the upgraded Pakistan-China Free Trade Agreement that took effect from 2020.
As Pakistan’s largest trading partner and major source of Foreign Direct Investment (FDI), China was playing an important role as a partner in Pakistan’s economic development.
Ambassador Haque invited the FPCCI/PCBC and Pakistani enterprises to play their full role in enhancing business and commercial linkages with the vast Chinese market.
Both sides also discussed the China-Pakistan Economic Corridor (CPEC) that has entered a new phase of higher-quality development focusing on industrial relocation, agricultural modernization, socioeconomic development and infrastructure upgrading.
Emphasizing CPEC’s potential as a transformational project, the Ambassador highlighted the pivotal role of enterprises from both countries in maximizing the benefits accruing from CPEC’s current stage. It was agreed to continue result-oriented consultations and organize joint meetings between Pakistani and Chinese enterprises to forge synergies and practical linkages. – Agencies
