KARACHI - Consul General of China Ma Yaou has said that Pakistan and China are committed to develop closer bilateral relations and further broaden their economic engagement for achieving common development.

During his visit to Karachi Chamber of Commerce and Industries he said, opportunities for joint ventures in different sector do exist. So far, China-Pakistani economic and trade cooperation have seen good progress. Pakistan is a safe haven for Chinese investment.

China-Pakistan’s trade and economic cooperation has seen good progress. He said that linkage of Gwader Port with Karakorum Highway will support logistics. Present volume of bilateral trade is $12 billion; Chinese exports to Pakistan are $9 billion while imports from Pakistan are $3 billion.

Commenting on direct air connectivity he stated that presently direct flights to Beijing are available only from Islamabad while direct flights to Guang Zhou and Shanghai will start soon. He stated that China holds immense tourist attraction and 20 million tourists visit China every year as the country holds an open tourism visa policy.  Exchanging views on establishing direct banking channel between two countries he said that ICBC Bank of China has established its branch in Karachi while Pakistani banks can open their branches in China with the permission of concerned authority. 

He stated that the Chinese Consulate General accords maximum consideration to business visas for KCCI members and visa is processed on priority. He informed that Chinese investment in Pakistan was mainly in the mines and energy. Saindak project is the flagship of Pakistan-China Friendship in mines.

China has also invested in energy projects of coal and wind in Pakistan.

KCCI’s President Muhammad Haroon Agar while exchanging views with the Consul General of China urged fresh Chinese investment in energy, infrastructure, metro-railways, mass-transit, dams projects which are direly needed to uplift economy and further strengthen Pak-China friendly relationship and economic cooperation.

He said Karakorum Highway is a remarkable example of mutual cooperation and is the symbol of friendship and understanding. More than 11,000 Chinese engineers, technicians and workers are rendering their valuable services in progress and development of Pakistan.

President KCCI hoped that current China-Pakistan bilateral trade volume of $12.4 billion will touch to $15 billion during next few years.

Former President KCCI Anjum Nisar, Senior Vice President KCCI Shamim Firpo, Vice President Nasir Mehmood and Managing Committee Members also participated in the meeting.