Just concluded Pakistan-China Business Forum 2024 to boost, strengthens bilateral economic relation: Commerce Minister
ISLAMABAD, June 8 (Gwadar Pro) – Pakistan's Federal Minister for Commerce Jam Kamal Khan on Friday said the just concluded Pakistan-China Business Forum 2024 will promote and strengthen bilateral economic relations between the two sides.
Pakistani Prime Minister Shehbaz Sharif and Shenzhen government leaders addressed the business leaders from both countries present.
The Pakistani delegation included representatives from 14 industries, including 105 companies, while the Chinese side had more than 500 companies.
Outside the venue, Federal Minister for Commerce Jam Kamal Khan and Minister for Privatization and Investment held talks with more than 40 Chinese companies.
Minister Jam Kamal Khan also interacted with delegations from Xinjiang, Qingdao and Weifang. He stressed the importance of this meeting in strengthening bilateral business relations.
“The presence of so many Pakistani and Chinese companies at this forum is a testament to the closeness of our bilateral ties. Chinese companies have set a benchmark globally and our goal is to learn from their experience."
During the discussion, Khan stressed the important role of business in driving economic growth. He pointed out that the forum was held to learn from the successful experience of Chinese companies in an effort to build a stronger and more vibrant Pakistan.
In 2023, bilateral trade between the two countries reached $20.7 billion, of which Pakistan's imports from China fell by 25% to $17.3 billion, and Pakistan's exports to China increased by 1.4% to $3.46 billion.
He stressed the potential of the scale of trade between the two countries and stressed that events like this forum can produce positive results through cooperation.
Speaking about Pakistani businesses, Khan stressed that a clear path is needed for economic recovery.
“The priority of our government is economic recovery through increased trade and investment. Under the leadership of Prime Minister Shehbaz Sharif, our efforts in economic stability, security and governance are yielding positive results,” he mentioned.
Khan held talks with delegations from Speedaf Logistics and China Metallurgical Group Corporation (MCC Group). He welcomed Chinese companies to establish joint ventures (JVs) with Pakistani companies to tap the Pakistani market for global exports.
During his visit, Khan witnessed the signing of 30 Memorandums of Understanding (MoUs) and one Letter of Intent (LOI) between companies from both countries.
Undoubtedly, this forum is a milestone in further strengthening the economic relations between the two countries. The event highlighted the potential for synergy between the two countries and the commitment of both governments to create an environment conducive to trade and investment.
