RAWALPINDI - Chinese government wants to strengthen economic and commercial ties with Pakistan. China Pakistan Economic Corridor (CPEC) has now been translated into a physical form. The more cooperation between private sectors of the two countries will lower the manufacturing cost.

This was stated by Chinese Ambassador Yao Jing while addressing Pak China business opportunity conference organised by Rawalpindi Chamber of Commerce and Industry (RCCI) here on Tuesday at a local hotel.

The ambassador said that the time has come for joint ventures and cooperation between the private sectors of the countries. Both countries are enjoying great friendly relationships and we need to explore more opportunities. Chinese government is encouraging its private sector for more collaboration with Pakistanis companies. He appreciated RCCI efforts for promoting trade and business activities in the region. He expressed hope for more business to business meetings in near future.

Lyu Xinhua, chairman of the Council for Promoting South-South Cooperation (CPSSC) and former vice minister of Foreign Affairs of People’s Republic of China, also addressed the conference. Chinese investors are keen to invest in energy, cement, electricity, environment protection, textile and chemical sectors, he said.

CPEC offers immense trade and business opportunities to the enterprises and business entities of both countries and through this mega project more incentives and initiatives will keep flowing for the good of the entire region, he added.

Earlier, President RCCI Malik Shahid Saleem in his address said that we recognize CPEC as a game changer and we strongly believed that joint ventures with Chinese Companies will usher new avenues of cooperation and improve our trade ties. The joint ventures between Chinese and Pakistani companies will increase the ownership of the key stakeholders, he added. The more we have local ownership in the projects the more it will be successful.

He said Pakistan’s economy offered great potential to Chinese investors for joint ventures and investments.

He said CPEC would be mutually beneficial for Pakistan and China and would ensure level playing field for the businessmen and investors of both countries.

B2B meetings were also organized on the occasion where business representatives from the private sectors got a chance to meet their counterparts in respective fields.