ISLAMABAD: Prime Minister Imran Khan on Monday launched the Pak-China Business Investment Forum (PCBIF) aimed at enhancing information exchange and promoting communication between businesses of the two countries, thereby opening up new avenues of cooperation.
The forum consists of 18 Chinese and 19 Pakistani companies. Its objective is to promote sustainable investment, export industry and development of modern technology in Pakistan and has been formed with the collaboration of the Board of Investment (BOI) Pakistan and All-Pakistan Chinese Enterprises’ Association (APCEA).
The PCBIF Constitution, devised by APCEA and BOI, was signed at the launching ceremony and comprises leading Pakistani and Chinese companies as part of the steering committee.
APCEA is the representative body of all Chinese companies operating in Pakistan which has been mandated by the Chinese Embassy to join hands with BOI for establishment of the Pakistan-China Business & Investment Forum (PCBIF).
Speaking at the occasion, PM Imran Khan said that he often received negative feedback from foreign investors regarding investment materialisation in Pakistan and that the government is determined to address this issue.
He added that the BOI is also playing a leading role in investor facilitation.
The prime minister said that the country is moving towards industrialisation with a special focus on increasing exports, adding that Pakistan must learn how to tackle disparity in resource management arising out of population growth from China.
Addressing the launching ceremony, Minister of State and BOI Chairman Azfar Ahsan said that BOI is leading Phase-II of CPEC i.e. Industrial Cooperation, which envisages the establishment of Special Economic Zones (SEZs) and fostering business to business (B2B) collaborations between Pakistani and Chinese enterprises, thereby paving the way for the meaningful colonization of the SEZs.
“This forum will rejuvenate further avenues of bilateral investment cooperation in the form of Joint Ventures (JVs) and other mutually beneficial partnerships,” Ahsan added.
“The addition of PCBIF under the auspices of BOI and APCEA is another milestone initiative that will prove to be a catalyst in enhancing the business-to-business ventures between Pakistani and Chinese companies,” the BOI chairman said.
China’s Ambassador to Pakistan H.E. Nong Rong also addressed the ceremony and expressed satisfaction on the increasing bilateral trade and investment volume between the two countries.
He apprised the audience on the two phases of CPEC and said that he was confident that PCBIF will further strengthen bilateral relations between the two countries.
