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Future of Pakistan Economy Linked to Trade with China: FPCCI

Posted by yourpakistan on June 30, 2011

APP (Associated Press of Pakistan)

The future of Pakistan economyis linked with economic growth of China and trade between thetwo countries through Silk Route and Kashgar can have multipliereffect on socio-economic relations.

This was stated by Tariq Sayeed, Patron-in-chief of Pak-China Business Council and former President FPCCI atChina-Pakistan Business Forum, organized by Trade DevelopmentAuthority of Pakistan in collaboration with CCPIT, XinjiangSub-Council and prefactual administration of Kashgar city of China, says a press release issued here on Thursday.

The Forum was inaugurated by Tariq Iqbal Puri, CEO, Masood Khan, Ambassador of Pakistan to China, Akram Zaki,senator and CEO of Institute of Policy Study Pakistan andDeputy Commissioner of Kashgar Prefactual Administration and Chief Secretary Gilgit-Baltistan Saifullah Chattaaddressed the session, which was moderated by Dr.Naeem Khan,Commercial Counsellor of Pakistan in Beijing.

The forum was attended by Iqbal Tabish, Secretary GeneralSAARC CCI, Amman Ullah Khan, Chairman Pakistan China Business& Investment Promotion Council, Customs officials of Kashgarand large number of businessmen from Pakistan and China.

“Pakistan should take the advantage of being aneighbouring country of the world’s leading exporter and the 2nd largest economy of the World, which provides over $ 1.0trillion import market of the World,” said Tariq Sayeed and added that together with Kashgar, the private sector ofPakistan could foster the economic cooperation and helpachieve trade target of $ 45 billion by end of 2015.
He identified inefficient logistics, as the main hurdlesin promoting trade through land route. He invited businesscommunity of Kashgar to Pakistan and urged for investmentthrough joint ventures in mutually interested areas andrelocation of industries with transfer of technology toPakistan, which was instrumental to reduce chronic tradedeficit, faced by Pakistan.

Both sides shared a road-map to yield maximum benefitsfrom regional proximity and agreed upon proposals includingimprovement of infrastructure, connectivity through rail androad, operations of direct flights, concessions on items trade in small quantities.

The Kashgar Prefectural Administration offered duty freeimport of need-based agricultural products including cherriesfrom Pakistan and allocation of 1-2 square kilometres inKashgar Economic Zone for facilitation of trade goods.

Copyright APP (Associated Press of Pakistan), 2011


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