Meeting with PCDMA panel: CG China for enhancing bilateral trade, investment

KARACHI: In a significant move towards enhancing bilateral trade and investment, the Consul General of China in Karachi, HE Yang Yundong, has expressed his desire to further strengthen trade relations with Pakistan and enhance bilateral trade through mutual cooperation.

The Consul General made these remarks during a meeting with a delegation led by Salim Valimuhammad, Chairman of the Pakistan Chemicals & Dyes Merchants Association (PCDMA), at the Chinese Consulate.

The meeting marked a major milestone in furthering economic ties between the two nations, with agreements on several crucial initiatives, including the expansion of the Pakistan-China Free Trade Agreement (FTA) and the organization of a China Solo Exhibition and an Investment Summit in Karachi. These initiatives are aimed at boosting trade, fostering investment, and opening new avenues for collaboration.

The PCDMA delegation, which included Vice Chairman Shariq Feroze, Convener of Diplomatic Affairs Nasiruddin Fatah Kukda, Executive Committee Member Yahya Arshad, former Chairman Abdul Rashid Khatri, Kamran Riaz, former Vice Chairmen Nadeem Aftab, Advisor Diplomatic Affairs Shahid Bashir, and Saleem Mukati, presented a range of proposals to strengthen industrial and trade relations.

The Chinese Envoy lauded the delegation’s proposals and offered full support to the initiatives aimed at boosting bilateral economic cooperation. Yang Yundong assured the delegation that PCDMA members would be granted priority for visas, facilitating smoother business exchanges.

He assured that additional items would be included in the FTA, particularly in the chemicals & dyes sectors, to further expand trade between Pakistan and China.

During the meeting, Chairman Salim Valimuhammad highlighted the urgent need for a China Solo Exhibition to be hosted in Karachi, where Chinese businesses could showcase their products and engage with local industry players. The Consul General agreed to work closely with the PCDMA to ensure the prompt organization of this high-profile event.

Additionally, the delegation agreed on the need for a China Investment Summit in Karachi, aimed at attracting Chinese investors to Pakistan’s rapidly growing industrial sectors.

PCDMA Chairman also stressed the need to include more items related to the dyes & chemicals sector in the FTA’s scope, specifically chapters 28, 29, and 32.

These sectors are vital to Pakistan’s economy, and expanding the FTA to include them would provide a significant boost to bilateral trade. The Consul General confirmed that the Chinese Consulate would coordinate with the Chinese Embassy in Islamabad to facilitate these changes.

In conclusion, Salim Valimuhammad expressed his gratitude to Consul General Yang Yundong for his unwavering support and collaboration. He emphasized that the agreements reached during the meeting would mark the beginning of a new era of economic partnership between Pakistan and China, one that would benefit both nations’ business communities and contribute to a substantial increase in trade volumes.

“The initiatives we have discussed today are just the beginning of a deeper, more productive collaboration between our countries. We look forward to seeing tangible results in the coming months, with expanded trade, increased Chinese investment, and strengthened industrial cooperation,” said Valimuhammad.

The meeting concluded on a positive note, with both sides reaffirming their commitment to working together to unlock the full potential of the Pakistan-China economic partnership.