LAHORE - Lahore Chamber of Commerce & Industry of the Sheikh Muhammad Arshad has urged the Chinese and Pakistani entrepreneurs to take maximum benefit from each other’s rich experience through joint ventures in various economic sectors.

He was talking to a 5-member Chinese delegation, led by President Sinkiyang Chamber of Commerce & Industry Yusup Jan, here at the Lahore Chamber of Commerce & Industry.

Sheikh Muhammad Arshad urged the Chinese investors to enhance investment in Pakistan which is a resourceful country and offering a lot to the foreign investors. The LCCI president informed the Chinese delegation that Pakistan is 4th largest producer of milk & cotton, 9th largest producer of wheat, 10th largest producer of rice, 7th largest producer of fruits and ranked 10th as far as labour force is concerned.

He said that geographically, Pakistan is situated at one of the best places of the world. He said that foreign investors can make their way to the landlocked Central Asian States and countries of the South Asia through making investment in Pakistan.

Sheikh Mohammad Arshad said that China is one of the largest trading partners of Pakistan and it is expected that bilateral trade between Pakistan and China will touch the figure of $ 15 billion within the next few years. Although Pakistan’s exports to China have been gradually increasing, the trade has always been in favor of China.

Sheikh Muhammad Arshad invited the Chinese businessmen to invest in Pakistan in priority sectors including oil and gas, mining, infrastructure, power (coal, hydel, gas based), IT & telecom, chemicals (fertilizer (urea), glass, PV & polymers), value added textile manufactures, engineering goods, textile machinery, electronics, automotives, agricultural & agro based industry, pesticides, cool chains, food & fruit processing and packaging, live stock & dairy farming.

He said Pakistan because of its strategic location could be a more suitable destination for Chinese investments. Pakistan is offering liberal investment policies allowing 100% foreign equity and equal treatment to local & foreign investors. He said Pakistan has a network of export processing zones and industrial estates ready to accommodate Chinese investors especially in Punjab.

He said that globalization had provided Chinese investors a golden opportunity to relocate their large scale industry to Pakistan to reap the benefits of its most conducive business policies as compared to other regional countries.