JVs between Chinese, Pakistani companies must be undertaken as soon as possible: High-level meeting told

Islamabad, June 25: A high level follow-up meeting on the Prime Minister’s recent visit to China was held under the Chairmanship of Federal Minister for Board of Investment, Privatization and Communications Abdul Aleem Khan and Minister for Commerce Jam Kamal Khan.

In this meeting the progress was reviewed about Chinese and Pakistani Companies and important aspects were discussed.

The developments on bilateral trade issues and the status of Business-to-Business (B2B) activities and the Memorandums of Understanding (MOUs) were also came under discussion.

Federal Minister for Board of Investment Abdul Aleem Khan clarified that Joint Ventures (JVs) between Chinese companies and Pakistani business organizations must be undertaken as soon as possible for which the relevant departments should complete their homework immediately and submit a report subsequently.

Federal Minister Abdul Aleem Khan further said that other Chinese companies which have not yet signed MOUs should also be contacted by Pakistani companies so that the visit to China can be made more fruitful.

Federal Minister of Commerce Jam Kamal Khan said that Pakistani Embassy in Chinese should conduct purposeful meetings with the business groups of both countries so that bilateral trade affairs can be further expanded. In the meeting, the Trade Officers of the Pakistani Embassy from Beijing, Shanghai, Shenzhen and Guangzhou briefed the high-level meeting on the progress made so far. Officers from various Ministries including Petroleum, Health, Industry, Information, Power Division and Information Technology also attended the meeting and presented their reports regarding PM’s recent visit to China.

Briefing the meeting, Secretary Board of Investment said that during the visit to China, beneficial sessions were held between 107 Pakistani and 250 Chinese business organizations and 30 MOUs were signed, which are being worked on in all respects.