RECORDER REPORT

FAISALABAD: China will provide lucrative incentives to its importers in order to encourage exports from Pakistan on permanent and sustainable basis, said Yao Ching, Ambassador of the People’s Republic of China.

He was talking to a delegation of Faisalabad Chamber of Commerce & Industry (FCCI) headed by its President Shabbir Hussain Chawla. During the meeting Senior Vice President Sheikh Farooq Yusuf, Former President Engineer Rizwan Ashraf and Sajjad Anwar were also present.

Yao Ching told that Pakistani Secretary Commerce is scheduled to visit China to take part in talks regarding second round of Free Trade Agreement (FTA) between Pakistan and China.

He hoped that during this meeting important decisions relating to reducing the existing duties on Pakistani products would be made which will ultimately help Pakistan to enhance its exports to China. He expressed satisfaction over the current balance of trade and said that it is beneficial for both the countries. However, China will offer special facilities to Pakistani exporters to penetrate deep into Chinese market. He acknowledged the huge export potential of Faisalabad and said that exporters from this textile city should take a bold initiative to explore and get maximum share from the in Chinese imports.

About China Pakistan Economic Corridor (CPEC), the Chinese ambassador told that it was comprised of four phases. First three phases including Gawadar Port, Infrastructure Development and Energy Base IPP’s were restricted to both the governments. “Under the fourth phase 9 Special Economic Zones are being constructed in all provinces of the Pakistan”, he said and added that it will offer opportunities to private sector of Pakistan to invest and harvest the benefits of these economic zones. This phase will also open new avenues of industrial corporations between the business communities of the two countries, he added.

Responding to a question, he said that more facilities would be provided to the applicants for Chinese visas and in this connection the businessmen will be given due preferences.

Yao Ching told that China International Import and Export Fair will be arranged from November 5 to 10, 2018. He offered Pakistani exporters to participate in it in order to showcase their innovative products.

Earlier, Shabbir Hussain Chawla congratulated Yao Ching on taking the responsibilities of new ambassador of China in Pakistan. He hoped that during his tenure both brotherly neighbouring countries will further strengthened their economic relations in addition to cementing the already strong diplomatic and political relations. He told that a delegation of FCCI intends to visit china to explore the Chinese markets and hence he needs active support of Chinese embassy to have productive meetings with their Chinese counterparts. Mr. Shabbir Hussain Chawla also invited Chinese ambassador to visit “Made in Faisalabad Expo” to be organized by FCCI on 24, 25 March. Chinese Ambassador gave his consent to attend this expo along with a delegation of Chinese businessmen.