Over 150 Pakistani Firms Participate in China World Trade Fair

Over 150 Pakistani companies are taking part in the China International Fair for Trade in Services (CIFTIS) 2024, marking a significant opportunity for Pakistan to boost its trade and investment relations with China. The event, which began on September 12 in Beijing, is one of the world’s largest international service trade fairs, running until September 20. It features participation from over 2,000 companies from 107 countries, reflecting China’s eagerness to foster global trade partnerships.

In a virtual address, Pakistan’s Investment and Privatization Minister Abdul Aleem Khan emphasized the potential of this event to enhance investment in Pakistan. He highlighted that the trade fair serves as an “excellent opportunity” for Pakistani companies to explore new business avenues and investment opportunities with China, particularly in the areas of agriculture, livestock, food processing, and minerals.

Khan stressed that Pakistan would offer comprehensive support to Chinese investors, particularly in special economic zones and export processing zones that promise to further strengthen trade ties. “This international event will be an excellent opportunity and positive step for investment in Pakistan with great expectations,” he said, expressing optimism about future collaborations between Pakistani and Chinese companies.

China has long been a crucial trade and investment partner for Pakistan, with its support being instrumental in stabilizing Pakistan’s economy. Since 2013, Chinese investment, including the rolling over of loans, has played a pivotal role in helping Pakistan meet its external financing needs, particularly when its foreign reserves have been critically low.

The minister also noted that under the China-Pakistan Economic Corridor (CPEC), Pakistan has seen visible improvements in sectors like transport, energy, infrastructure, and communication, which have further opened up opportunities for Pakistani companies to expand their business-to-business activities with China.

Pakistan’s involvement in CIFTIS is expected to strengthen the bilateral economic relationship and open doors for new business collaborations, allowing more Pakistani companies to establish or shift industries to Pakistan with Chinese support.