Abdul Aleem Khan meets Chinese Ambassador Jiang Zaidong to bolster economic cooperation

Celina Ali

Islamabad: On the instructions of the Prime Minister, a high-level meeting was held at the Board of Investment in Islamabad, Pakistan, marking a significant step towards strengthening economic ties between Pakistan and China. The meeting was attended by prominent figures, including Ambassador Jiang Zaidong of China, Abdul Aleem Khan (Minister Board of Investment) Jam Kamal Khan (Minister Commerce), Rahim Hayat Qureshi (Secretary), and Syed Tariq Fatemi, Special Assistant to the Prime Minister.

Co-chaired by Minister Abdul Aleem Khan and Minister Jam Kamal Khan, the discussions centered on leveraging the bilateral potential for economic growth. The Secretary emphasized the importance of joint ventures (JVs) between the private sectors of both countries, presenting a robust plan for systemic improvement and policy action. A notable highlight was the intention of participation of 163 Chinese companies and 78 Pakistani companies in JVs, focusing on key sectors such as leather, textiles, produce, meat, medical, agriculture, and plastics.

In his presentation, the Secretary outlined the comparative advantages of Pakistani and Chinese companies in these sectors. He underscored how JVs could facilitate the relocation of Chinese companies to Pakistan, offering significant benefits such as reduced duties and a synergetic opportunity for imports. He revealed that over 20 companies in each sector may have interest in JVs and relocation, emphasizing the high potential for mutual growth. The secretary requested His Excellency to reach out to the 163 Chinese companies to consider engaging in joint ventures with the identified 78 companies in Pakistan for portfolio matching.

Ambassador Jiang Zaidong acknowledged Pakistan’s comparative advantages and praised the efforts of the Board of Investment and the Ministry of Commerce. He committed to conveying the positive developments to the Chinese government and highlighted the untapped potential in Pakistan. Ambassador Jiang expressed confidence in the smart cooperation and facilitation plans for the future, including the collaboration between the Board of Investment, the Ministry of Commerce, and the Chinese Embassy in risk management, information systems, and security to aid ease of doing business and joint ventures.

One of the key suggestions from the ambassador was for Pakistani companies to organize a roadshow in China. This initiative aims to acquaint Chinese companies with Pakistani enterprises, fostering better JV opportunities and exploring synergetic potentials.

Minister Abdul Aleem Khan assured that efforts would be made to facilitate businessmen with visa processes on both sides, addressing security concerns and removing hurdles for joint growth. Minister of Commerce Jam Kamal Khan reaffirmed the government’s commitment to materializing steps for uplifting trade and mutual development, ensuring a vibrant business relationship.

In closing, the ambassador and ministers exchanged warm remarks about the enduring partnership between China and Pakistan. They expressed their gratitude and optimism, highlighting the ironclad friendship and shared vision for a prosperous future.