ISLAMABAD - Islamabad Chamber of Commerce and Industry has signed a Memorandum of Understanding of Strategic Cooperation Framework with Xinjiang Construction Corporation of Hami, China to actively promote investment and joint ventures for the construction of Silk Road Belt and China-Pakistan Economic Corridor projects on the basis of mutual benefits and win-win situation.

Atif Ikram Sheikh, President, Islamabad Chamber of Commerce & Industry, and Liang Bangguo, Party Committee Member & Discipline Secretary of Xinjiang Construction Corporation, signed the MoU. Chinese delegation visited ICCI along with Riaz Khattak, Vice President FPCCI.

Both sides agreed to deepen mutual cooperation and work jointly for encouraging the investment and JVs for the construction of these vital projects in order further enhance bilateral trade and economic relations between Pakistan and China. They also agreed to enhance cooperation for establishing the logistics platforms that would greatly facilitate promoting trade and commerce between the two countries. They underscored the need of exchanging visits to promote connectivity between private sectors of both countries and sharing business related research, trade and investment information in order to identify new areas of potential cooperation.

Speaking at the occasion, Atif Ikram Sheikh said that the $46 billion CPEC was a game changer project for Pakistan as it would not only generate lot of business and investment activities in Pakistan, it would also send signals of stability and investment friendly messages to global investors about Pakistan’s economy. He said all stakeholders should join hands for timely completion of these vital projects to unlock the real potential of Pakistan’s economy. He hoped that MoU between ICCI and Xinjiang Construction Corporation of China would contribute positively towards attracting potential investors for the construction of Silk Road Belt and CPEC project.

Liang Bangguo, Party Committee Member & Discipline Secretary of Xinjiang Construction Corporation of Hami, China said that apart from participating in the construction of CPEC projects, Chinese investors were interested in many other sectors of Pakistan’s economy to exploit untapped opportunities. He said they were also working for the establishment of an Industrial Park at an area of 400 acre land near New Islamabad Airport in order to promote joint ventures and set up industrial units in Pakistan in areas of interest. He also emphasized for frequent interactions between businessmen of both countries and invited a delegation of ICCI to visit China to explore new avenues of mutual cooperation.