Islamabad, July 31: The ambassador of Pakistan to China, Khalil Hashmi, has urged China to cooperate more in terms of investments across a range of industries, claiming that this will strengthen the two countries’ bilateral relations.
As to a report published on Tuesday by China Economic Net (CEN), the ambassador conveyed these opinions while in Shanghai with the aim of promoting increased investments from Pakistani local enterprises.
According to the report, which was written while the Ambassador was in Shanghai on a visit that began on July 28, the Yangtze River Delta, a booming economic engine and manufacturing powerhouse in China, is starting to emerge as a hub for potential collaboration between Pakistan and China in areas like electric vehicles, new energy materials, and semiconductors.
The itinerary of the ambassador emphasized Pakistan’s endeavors to cultivate more robust business connections and investigate opportunities for collaboration and investment. The ambassador highlighted Shanghai’s critical role as a gateway to the Yangtze River Delta region during a series of meetings with academics, business elites, political officials, and the media when he was in the city.
A major driver of industrial innovation and economic growth in China, the Yangtze River Delta is a thriving economic area that includes Shanghai and the provinces of Jiangsu, Zhejiang, and Anhui. The region, which occupies over 358,000 square kilometers, plays a crucial strategic role in the national economy of China as it accounts for more than one-third of the nation’s total international commerce and roughly a quarter of China’s GDP.
Ambassador Hashmi stressed, “There are a plethora of opportunities for joint ventures and collaborations between Pakistan and China within the Yangtze River Delta.”We see a lot of promise in areas like novel energy materials which are essential for sustainable development and electric vehicles, in which China leads the world. Moreover, semiconductors, the foundation of contemporary technology, present another exciting opportunity for collaboration.
Following Pakistani Prime Minister Shahbaz Sharif’s visit to China last month, whereby a joint declaration detailing 13 priority export-oriented industrial sectors for Pakistan’s development was issued, efforts have been stepped up to entice Chinese investment into Pakistan.
The 13 industries which include, among others, solar panels, ICT, semiconductors, electric cars, agriculture, iron and steel, petrochemicals, oil and refineries, and mining and minerals represent important fields in which China’s technology can be applied to promote sustainable growth in Pakistan.
Ambassador Hashmi emphasized the value of actively participating in exhibitions, conferences, and other events to close the gap between the business communities of the two nations and open the door for economic collaboration.
Upcoming FoodAg Pakistan, which is set to take place in Karachi early next month, has already drawn the registration of 220 Chinese businesses. We hope to reach new heights in our economic trade and investment cooperation with these measures,” he stated.
Apart from commercial endeavors, the envoy emphasized cultural programs designed to improve understanding amongst people. “We intend to host Pakistan Fashion Week in Shanghai this year, exhibiting our dynamic fashion sector and rich cultural legacy,” he declared. To further promote travel and interpersonal interactions, a program for tour operators to trade is also being developed.
