FAISALABAD: In new emerging economic scenario â€œOne Belt-One Roadâ€ is a gigantic infrastructure of China to link up Asia with Europe and Africa and this project has already been successfully initiated from Pakistan, saidÂ Mr. Wang Zihai President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) Lahore.
He was addressing a meeting in Faisalabad Chamber of Commerce and Industry (FCCI) which was also attended by the business community as well as the students of Chinese language course. He said that in first phase of CPEC (China Pakistan Economic Corridor) a comprehensive road network has been laid form Khanjrab to Gwadar. In its second phase work was in progress for the erection of power plants throughout Pakistan, he added. He particularly mentioned 1320 MW coal power plant and said that with its completion the menace of load shedding will be eliminated once for all in 2018.
He said that Pakistan and China have inked 46 MOUâ€™s in different segments of economy while during fourth phase of this project, industrial cooperation will be enhanced. He termed it as one of the most important segment of the CPEC project as governments as well as the private sectors of the two countries have to play their role for its successful execution. He said that governments will have to take decision that during this phase which industry should be installed. However, in this connection the private sector has to enter into joint ventures to establish the most required and agreed industry. He said that Pakistan is a cotton producing country and hence it has huge potential to set up garment industry and hoped that in this connection the businessmen of both countries will cooperate for their mutual benefits. He assured (PCJCCI) will fully cooperate in linking and match making of the concerned entrepreneurs from the two countries. He also stressed the need to ink a MoU with FCCI so that the Chinese delegations visiting Pakistan could also visit Faisalabad and interact directly with business community of its businessmen. He also invited FCCI delegation to visit PCJCCI, Lahore.
Responding to a question, Salah ud Din General Secretary PCJCCI told that only upper and upper middle class management from China will come to Pakistan for the execution of different projects in Pakistan. â€œAll the rest of the workers will be recruited from Pakistanâ€, he told and also gave a brief resume of the PCJCCI. He said that it has 250 members while its fold while its membership was open to all businessmen working or intending to work with the Chinese investors.
He further told that PCJCCI has already launched different programs in collaboration with TEVTA to impart much needed training to the semi skilled and unskilled workers so that they could be accommodated in the joint ventures to be launched in near future. Responding to yet another question, he said that Chinese language and cultural barriers are major hindrance in the economic cooperation of two countries at the private level and in this connection the PCJCCI has published a dictionary containing 10,000 frequently used words in Chinese.
Continuing, he said that apart from the investment of 55 billion dollars under CPEC project, another 100 billion investment form private sector is also in the pipeline and the Pakistani entrepreneurs should play their proactive role to attract maximum investment.
Earlier, Engineer Mohammad Saeed Sheikh President FCCI briefly introduced Faisalabad and FCCI and said that investment of 55 billion dollars has laid down a solid foundation for the economic and sustained cooperation between the two countries. He hoped that two countries will launch maximum joint ventures which will generate economic activity and play a key role in weeding out poverty form this part of the world. He told that in view of the enhanced economic relations, FCCI has launched Chinese language course which will bolster this relationship in the coming years. He also thanked Mr. Wang Zihai for extending cooperation to launch the Chinese language course in FCCI. He said that Faisalabad has also unique privilege to set up first CPEC Cell of the country that is analyzing the huge potential of this project.
Engineer Ahmad Hasan VP FCCI said thatÂ China-Pakistan Economic Corridor is the most important project in the history of Pak-China cooperation which will change the fate of Pakistan and help 3 billion people living in this region.
He said that China is Pakistanâ€™s largest trading partner as its bilateral trade has increased to 12.91 billion Dollars with a growth rate of 15% per annum during the period from 2011-15. He said that Pakistanâ€™s exports to China in 2015 were only 1.9 billion Dollars whereas Chinaâ€™s exports to Pakistan were 11.01 billion Dollars. â€œChina is the largest import partner of Pakistan having share of 25% (2015)â€, he said and added that thus; the balance of trade is in favor of China.Â
Â During question answer session former president FCCI Chaudhary Mohammad Nawaz, Chaudhary Muhammad Asghar, Shabbir Hussain Chawla, Malik Abdul Qayyum and Sanaullah Niazi raised interesting question while a documentary on Faisalabad and FCCI was also screened.
SVP Rana Sikandar Azam offered vote of thanks while President Engineer Mohammad Saeed Sheikh presented FCCI shield to Mr. Wang Zihai. Similarly, SVP Rana Sikandar Azam also presented a memento to Secretary General PCJCCI Sallah ud Din.
In the end VP FCCI and Chairman CPEC Cell Engineer Ahmad Hasan presented a book specially prepared by the CPEC Cell of the FCCI.