Pakistan needs to attract Chinese manufacturing companies for investment: Senior govt official

Islamabad: Pakistan must try to attract Chinese manufacturing companies to invest in Pakistan, a senior government t official said at a seminar.

Addressing as keynote speaker at a seminar here on ‘New World Economic Order’ held under the aegis of Gold Ring Economic Forum (GREG), Coordinator to Federal Tax Ombudsman Meher Kashif Meher stressed that there was a huge potential for Chinese investment in Pakistan.

He urged the need to devise a viable strategy to attract Chinese manufacturing companies to Pakistan which were moving to Vietnam.

Meher Kashif Younis mentioned that on the other hand China had been making its structural economic shift through self reliance and domestic consumption instead of relying on exports and foreign aid.

He contended that for most developing countries, this competition was an opportunity to further their economic interests as China had always remained supportive to Pakistan.

Younis remarked that said since China does not see any conflict between Partnership for Global Infrastructure and Investment (PGII) and its Built and Road Initiatives (BRI) projects, Pakistan can explore how it can benefit both the US and Chinese initiatives.

In conclusion, he emphasized that China continued its global integration through free trade agreement and recently inked trade agreements with 14 Asia-pacific countries through the regional comprehensive economic partnership (RCEP).

“This is the world’s largest free trade agreement covering about one third of the world’s population and GDP (Gross Domestic Product),” he added.

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