CPEC Updates

Chinese investors express interest in cooperation in Pharmaceutical industry

en.ppostnews.com: IslamabadA Chinese delegation has expressed interest in business matchmakings and joint ventures with Pakistani counterparts in pharmaceutical, chemical, automobile, engineering, communication and solar energy sectors.

Businessmen from the Chinese province of Shanxi visited the Islamabad Chamber of Commerce and Industry (ICCI) and discussed increasing interaction between the two sides to establish business collaboration.

Representatives of the Shanxi Pharmaceuticals Group said their company was exporting pharma products to over 200 countries and it wanted to explore business prospects in Pakistan.

Representatives of an automobile group said they were already supplying heavy trucks to Pakistan and were looking for partners to supply more trucks.

The delegation members invited ICCI members to visit Shanxi province to explore opportunities of business collaboration. Speaking on the occasion, ICCI President Sheikh Amir Waheed said Pakistani pharmaceutical companies were importing raw material from China and India for manufacturing pharmaceutical products.

He emphasised that Chinese pharma companies should establish plants for producing raw material in Pakistan which would help in manufacturing pharmaceutical products at competitive prices.

He told the Chinese delegation that many industrial zones would be set up in Pakistan under the China-Pakistan Economic Corridor (CPEC) and Chinese investors should put up manufacturing plants through joint ventures in their areas of interest in these SEZs.

Waheed said Chinese investment in Pakistan would enable them to enhance exports to South and Central Asia, the Middle East, Africa and many other markets.

Waheed stressed the need for developing strong business linkages between the corporate sector and SMEs of Pakistan and China so that they could complement each other and achieve mutually beneficial business outcomes.

ICCI Vice President Nisar Mirza assured the Chinese investors that the chamber would play the role of a bridge to connect them with right partners in Pakistan

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