BEIJING - Commercial Counsellor, Pakistan Embassy Beijing, Ghulam Qadir has called upon the Chinese pioneer industrialists to take advantage of the incentives and investment-friendly policies offered by Pakistani government for the foreign investment in the Special Economic Zones (SEZs).

The Chinese entrepreneurs could avail incentives offered at special economic zones (SEZs) as well as lease and transfer of land by foreign investors and facilitation for foreign real estate developers, he told participants of a seminar titled ‘Summit Forum on China’s International Economic Cooperation Going Global’ held on sidelines of the 2022 China International Fair for Trade in Services (CFTIS).

He remarked that investors could also get advantages of a complete tax holiday for contractors and sub-contractors for 20 years and exemption from customs duty for 40 years on the import of equipment and material for construction and operation of the free zone. About enhanced bilateral cooperation between China and Pakistan, he said the Free Trade Agreement (FTA) paved way for Pakistan to promote local products through e-commerce platforms. “Our products are available for sale on famous Chinese online platforms particularly Jingdong (JD.com),” he added. 

Terming Pakistan’s current exports to China just a drop in the ocean, he said that Pakistani exports goods got over 91 percent market access at zero rates after signing of China-Pakistan FTA. He informed that efforts were being made to enhance Pakistan’s exports to China by sectoral strategies, promotion activities, integrating into Chinese e-commerce giants and promoting efficiency-seeking investment from China.

According to experts, the six-day event achieved fruitful results and brought fresh hope to stagnating global economic growth. Themed “Cooperate for Better Development, Innovate for a Greener Future” CIFTIS 2022 featured greater internationalisation, with the participation of over 7,800 companies online and more than 2,400 enterprises in-person, including 507 industry-leading enterprises and Global Fortune 500 companies. A total of 71 countries and international organisations exhibited at the fair this year, with the total exhibition area increasing 20 percent from last year to reach 152,000 square meters.