Chinese delegation seek joint ventures with Pakistani companies – Research Snipers

Chinese delegation seek joint ventures with Pakistani companies

A delegation of Chinese companies led by Division of Asian Affairs Department of Commerce (DAADC) of the province Shandong China’s director Jia Jiqing has recently visited Islamabad Chamber of Commerce and Industry (ICCI) and showed the interest in joint ventures with local companies in Pakistan in order to invest to manufacture aluminum products, automobiles, agricultural equipment and solar energy products.

The Chinese delegation representing a vast number of Chinese companies that are keen on investing in Pakistan and set up manufacturing units in collaboration with local companies. The representatives of Chinese companies said this was their first ever visit in Pakistan in order to explore investment opportunities in Pakistan.

They said, first we are looking for the partners to introduce our products in Pakistan’s market, later this partnership will go into joint ventures and investment in Pakistan. The Shandong Haitian Seven Color Panel Company Limited said that their aluminum products are quite popular in more than thirty countries worldwide including Russia, Indonesia, Nigeria, UAE, Singapore, Egypt, India, Brazil and some EU countries, they are now focusing on Pakistani market.

The representatives of other Chinese companies have also unveiled their products, plans, and opportunities, they said they were looking for partners in Pakistan and sought cooperation and support of ICCI in achieving this.

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The delegation has also invited ICCI to visit China’s Shandong province and explore opportunities for their companies in China. They said the private and business partnerships between Chinese and Pakistani companies would further strengthen the bilateral trade relations of the countries.

ICCI president while speaking to the gathering said under CPEC, 9 special economic zones would be formed in the country. The government of Pakistan has offered tax holiday and other attractive incentives to Chinese companies for joint ventures and investments in these special economic zones.

He said that Chinese companies should establish joint ventures in Pakistan and make necessary arrangements for technology transfer and set up manufacturing units in Pakistan. After meeting local market needs the Chinese companies can export their products to Central Asia, Middle East, and South Asia from Pakistan which can reduce their cost and increase profits. He assured that ICCI would fully cooperate with Shandong companies in establishing business collaborations in Pakistan.