BEIJING: Chinese and Pakistani sides conducted in-depth discussions on trade and investment cooperation in luggage and other key industries in Ruian City and reached a consensus on accelerating bilateral cooperation.

In this regard, representatives from Zhejiang Ruian Municipal Government and Consulate General of Pakistan in Shanghai held an online trade and investment matchmaking meeting, China Economic Net (CEN) reported.

At meeting Hussain Haider Consul General of Consulate stressed Pakistan’s demand for middle and high-end luggage and bags and explained trade and investment policies of Pakistan.

He pointed out that Pakistan’s overall policy on foreign investment is lenient and foreign investors are free to invest in Pakistan except in few prohibited sectors, with no shareholding limit.

“Under China-Pakistan Economic Corridor, Pakistan is introducing more favourable reform measures to attract Chinese investment, which will also create better conditions for Ruian enterprises to do business in Pakistan,” Haider said.

Ruian, major manufacturing hub for bags, leather shoes, auto parts and electrical equipment in east China’s Zhejiang province is rapidly developing an export-oriented economy. In these areas, both China and Pakistan have complementary industrial structures and strong demand for cooperation, which has laid solid foundation for bilateral industrial cooperation.

Chen Peng vice mayor of Ruian proposed to promote China-Pakistan cooperation on regular and systematic basis. He sent an official invitation to Haider hoping he would lead delegation to Ruian for field visit and looked forward to early results of bilateral cooperation.

Representatives from Ruian Bureau of Commerce, Municipal Council for Promotion of International Trade and Ruian Luggage Industry Association attended meeting.

Published in The Daily National Courier, March, 07 2023

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