Pakistani companies to participate in road shows in China starting next week

ISLAMABAD: Around 27 Pakistani leather and fisheries companies will participate in “major” road shows in different cities of China on Oct. 29 and Nov.5, the privatization ministry said this week as Islamabad eyes enhancing business-to-business activities with key economic ally Beijing. 

Pakistan has been eyeing foreign investment and business collaboration with various regional states, including China, to ward off a prolonged economic crisis. China’s prime minister visited Pakistan with a high-level delegation this month, during which the two countries signed various agreements to boost trade, business and investment cooperation. 

The first of the road shows will be held on Oct. 29 in China’s Qingdao city while the second has been scheduled for Nov. 5 in Guangzhou. The privatization ministry said 30 representatives from 17 Pakistani fisheries companies and 16 from ten leather companies will be participating in the road shows. 

“Business-to-business activities between China and Pakistan are ongoing and in this regard, major roadshows for Leather and Fisheries are being organized in different cities of China,” the ministry said. 

The statement came after Privatization Minister Abdul Aleem Khan chaired a meeting on Wednesday to review progress on Pakistan-China business-to-business activities.

Khan said seven major sectors. including leather, textiles, medical and surgical equipment, fruits, vegetables, plastics, fisheries and animal foods could prove to be a “breakthrough” for the country’s economy.

He said organizations in both countries were engaged in cooperation to boost business ties with one another. 

“A total of 168 companies from China and 78 companies from Pakistan are working under cooperation and Pakistan should take maximum share in the transfer of industries from China,” the statement said. 

“Executives of leading Pakistani organizations participated in the high-level meeting and assured full participation in both the Road Shows in China,” the statement said. 

Chinese investment and financial support for Pakistan since 2013 have been a boon for the South Asian country’s struggling economy, including the rolling over of loans so that Islamabad can meet external financing needs at a time when foreign reserves are low. 

Beijing has over $65 billion in investments in road, infrastructure and development projects under the China-Pakistan Economic Corridor, which is a part of the Belt and Road scheme.