RECORDER REPORT

KARACHI: Dr Ellen Lau, vice president of Pakistan Chamber of Commerce Hong Kong (PCCHK) who is leader of a visiting delegation has said that his delegation was looking forward for investment opportunities in the health, education, infrastructure development, mining and other important sectors of the economy.

She expressed these views during B2B sessions at the Karachi Chamber’s pavilion at the 10th Expo Pakistan Exhibition where she exchanged views with the president of Karachi Chamber Muffasar Atta Malik, senior vice president KCCI Abdul Basit Abdul Razzak, vice president M Rehan Hanif and KCCI managing committee’s members.

“Karachi city has developed very well and this is right time to invest here. Keeping in view the improved situation, many airlines from Hong Kong and China are much interested in expanding their flight operations to Karachi,” she said, urging that PCCHK and KCCI must work together and make collective efforts to facilitate trade and investment.

Pakistan’s Consul General in Hong Kong Abdul Qadir Memon advised KCCI and PCCHK to jointly organize trade and investment conference either in Karachi or Hong Kong which would not only help in bringing the business communities closer to each other but would also prove favourable in terms of exploring new avenues of trade and investment cooperation.

To a query, Memon said that Pakistan’s embassy was working closely with the government of Hong Kong in order to ease the visa issuance process for the business and industrial community.

Ambassador of Tunisia, Adel Elarbi, also shared his views with the KCCI office bearers saying that the business community of Pakistan could surely benefit by expanding trade and investment ties with Tunisia which is very near to European and African markets.

“Pakistan and Tunisia have been enjoying excellent relations and the Tunisian business community often visits Pakistan but not much trade missions from Pakistan are visiting Tunisia which requires attention” he said, expressing hope that business community of KCCI would be visiting Tunisia in near future. He urged that the business communities would have to meet each other more frequently to learn from each other’s experience.

Referring to the negotiations for signing Preferential Trade Agreement (PTA) between Pakistan and Tunisia, he hoped that the PTA between the two brotherly countries would be inked soon which would open a host of opportunities for enhancing bilateral trade.

“Being an agricultural country, Tunisia produces some of the best and finest quality dates, olive oils and other agricultural commodities which can be supplied to Pakistan,” he said assuring unimpeded issuance of visas to those businessmen and industrialists from Karachi who want to explore Tunisia trade, investment and tourism opportunities.

A German delegation, led by Manager International Affairs Metro AG, Moritz Seiler, also held meeting with KCCI members. Seiler said that although Metro was successfully doing business in Pakistan but now they want to further expand their operations by opening more franchising stores.

Chief International Officer of WhiteTec Germany, Norbert W Hartung, briefed about the overall operations of WhiteTec. He said that his company mechanically converts all forms of garbage and wastes to carbon within minutes and this technology of converting garbage to carbon can also be introduced in Pakistan which can be used for different purposes including raw material for many industries, power generation and textile manufacturing etc.

“This technology is capable to convert garbage to carbon within 4 to 5 minutes and can be mounted on an area of 1,000 square metres with a capacity to convert 900 tons per day,” he said.

President of China-Pakistan Economic and Trade Association, Xing Ping, who leads a Chinese delegation from Chongqing, evinced keen interest to supply auto spare parts and desalination plants in Karachi and explore opportunities of undertaking joint ventures in these sectors.

Mufti Hanka Hasan, vice chairman of Indonesian Chamber of Commerce and Industry and leader of an Indonesian delegation said that Pakistan and Indonesia have been enjoying good trade relations but efforts have to be made to make it bilaterally balanced trade.

Referring to KCCI president’s suggestions, he said that the Indonesian business community would look on how to capitalize Special Economic Zones being established across Pakistan under CPEC project.

The delegates from China, Hong Kong, Germany, Tunisia and Indonesia have expressed seriousness towards undertaking joint ventures and exploring investment opportunities in Pakistan, particularly in Karachi where the mainstream business and economic activities continue to take place in full swing and the improved law and order situation has resulted in attracting many potential investors from around the world who are keen to initiate or expand business ties with their counterparts in Karachi.

Foreign businesspersons, investors and industrialists mostly inquired about the potential sectors, security situation, investment policies, business climate, taxation policies and the incentives being offered to foreign investors, besides seeking ways and means of how to create a strong liaison and improve collaboration between KCCI and other chambers of commerce around the world in order to facilitate trade and investments.

The KCCI president pointed out that China-Pakistan Economic Corridor (CPEC) had opened huge number of investment opportunities for foreign investors who could surely benefit by setting up their businesses in 9 Special Economic Zones (SEZs) being established across the country.

“Two of these SEZs are being established in Karachi where foreign investors can either set up their businesses or undertake joint ventures which will be surely a win-win situation, keeping in view the investment potential of this city,” he said. 

He was of the opinion that the improved law and order situation across the country along with the CPEC project paved way for the economic boost in the next 7 to 10 years, making Pakistan the hub of economic activities of the region and a reliable gateway giving easy access to not just China but also to other Central Asian countries and beyond.

Underscoring the need to strengthen ties between Karachi Chamber and its peer chambers around the world, Muffasar Malik said that some kind of mechanism has to be put in place so that these chambers could play a more proactive role in building and further improving relations between the business communities.

Muffasar Malik also stressed the need to organize seminars, conferences, trade delegations’ visits and other business promotional activities which would yield positive results.