Pakistan Business Forum held in Beijing
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Pakistani Ambassador to China Masood Khalid addresses the Pakistan Business Forum at the Pakistan Embassy in Beijing on Oct 9, 2014. [By courtesy of Pakistan Embassy in Beijing] |
"Pakistan suits Chinese companies going global as destination of choice," said Pakistani Ambassador to China Masood Khalid at the Pakistan Business Forum, which was held at the Pakistan Embassy in Beijing on Thursday.
About 100 Chinese businessmen attended the forum, which was co-organized by the Pakistan Embassy and the Top 500 Foreign Trade Enterprises Club.
Addressing the forum, Ambassador Khalid highlighted Pakistan's liberal business and investment system, describing it as a destination of choice for Chinese investors and Chinese companies who are seeking to go global.
He said that Pakistan was well placed on international indexes in terms of ease of doing business. For example, concessions on income tax, repatriation of dividends and complete autonomy on using 100% equity have greatly incentivized investment in the country.
He also said that the policies were particularly suited to Chinese companies, who are good neighbors and "iron brothers" to Pakistan. At present, 12,000 to 13,000 Chinese are working on projects in Pakistan. They are accepted as trusted partners. China and Pakistan have already signed a free trade agreement, a currency swap agreement and other financial and banking cooperation treaties. Both countries established joint economic committees, joint investment companies and a joint cooperation committee on the development of a shared economic corridor. "Both countries have a solid architecture for promoting economic cooperation," Khalid added.
Ambassador Khalid said that Chinese businessmen should particularly look to involve themselves in Pakistani textiles, agriculture, leather, stone and marble, minerals, fisheries, fruits, dairy and oil & gas. He invited them to explore the potential of the Pakistani market, where multinationals are making good profits. He said that trade volume rose from $10 billion in 2011 to more than $14 billion last year.
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