ISLAMABAD - About 130 Chinese and 100 Pakistani companies have been displaying equipment and appliances at Pak-China Business Forum 2014 inaugurated at Pak China Friendship Center on Friday.

The Comsats Institute of Information Technology (CIIT) is organising 3rd Pak-China Business Forum, from March 21-24, 2014, to promote University-Industry collaborations in business and economic sectors for the mutual benefit of both countries. In this forum 130 Chinese and 100 Pakistani companies are displaying equipment and appliances.

The Federal Minister for Science and Technology Zahid Hamid inaugurated the mega show by cutting the ribbon. While addressing the inaugural ceremony the Federal Minister said that promoting and facilitating economic progress of developing countries through transfer of technology and diffusion of knowledge is very important especially for the South Asian region.

Devising national strategies for the human resource development and promotion of science and technology are need of the hour, he added.

The opening session was also addressed by the President Pak-China Investment Company and Secretary Ministry of Foreign Affairs and President, Federation of Pakistan Chamber of Commerce and Industries.

The Rector CIIT Dr SM Junaid Zaidi said the Comsats has introduced an academia driven model of business cooperation by conducting Pak-China Business Forum to promote academia-industry collaboration in business and economic sector for mutual benefit of both the countries. 

The Rector briefed the media persons that the forum encompasses project exhibitions, seminars, workshops and industrial academic expo. It will also help promoting thematic areas of new energy technologies, information and communication technologies, water conservation, purification and sanitation and biomedical materials, in consultation with Chinese counterparts, he said.

The forum will provide an opportunity for commercialisation of products and processes of the participating organisations.

Giving the historical perspective of the event he said, that CIIT introduced an academia driven model of Business Cooperation in 2012 which was 1st Pak- China Business Forum followed by 2nd Pak China Business Forum in 2013. These forums were a complete success during which 14 Chinese and 65 Pakistani companies and 32 Chinese and 88 Pakistani companies, respectively, exhibited their products. The total attendance at the events in 2012 and 2013 was 50,000 and 80,000, respectively.

This endeavour by CIIT focuses on the promotion of an academic-industry collaboration in business and economic sector for mutual benefit of both the countries, hence further strengthening the ties of geographically bonded countries.