KARACHI: In a significant development, two Chinese companies will set up factories for the production of electric cars in Pakistan. A delegation of twenty major exporters, led by Caretaker Minister of Commerce Gohar Ijaz, returned to Pakistan after a fruitful visit to China.
Zubair Tufail, former president of the Federation Chamber of Commerce and Industry (FPCCI) and a member of the advisory council, shared the positive outcomes of the China visit with the media in Karachi.
He highlighted the success of the delegation’s interactions in securing new investments from China, particularly in the automotive, mineral, and agricultural sectors. Moreover, the two nations agreed to initiate joint ventures, including ventures in the textile sector, and transfer China’s technology to special economic zones in Pakistan.
Tufail said that the visit, part of ‘Vision Pakistan 100 Billion Dollars,’ will expedite trade relations between the two countries. Caretaker Minister Gohar Ijaz played a crucial role in fostering successful partnerships and expanding market opportunities for Pakistani exporters. The visit also played a vital role in strengthening the trade ties between Pakistan and China, with investments flowing into Pakistan.
Manufacturing Electric Cars in Pakistan’s Special Economic Zones
Chinese President Xi Jinping’s Belt and Road Initiative (BRI) has brought together businessmen from both countries, fostering increased trade. Tufail highlighted the significance of the China-Pakistan Economic Corridor (CPEC) as a unique gift from China to Pakistan, bringing the two nations closer economically.
The delegation’s visit included discussions with Chinese industrialists, leading to fruitful business-to-business meetings. Tufail revealed that China’s automobile sector is set to invest in Pakistan, with a focus on electric car manufacturing. Caretaker Minister Gohar Ijaz conveyed the government’s encouragement for the manufacturing of electric cars in Pakistan’s special economic zones.
The delegation’s meeting with China’s Deputy Minister of Commerce, Li Fei, discussed boosting trade between Pakistan and China. Tufail expressed optimism about the future of Pakistan-China trade relations.
