Islamabad: The China Asia Economic Development Association (CAEDA) has expressed interest in establishing a “Pakistan Zero-Tariff Trade Zone” to facilitate trade, set up a service centre for Chinese imports, and explore opportunities in agriculture, livestock, exports, and B2B investments. The details have been sourced from an October 11 publication.
According to the details, a CAEDA delegation, led by Qian Qiu Zhu and Jian Jun Guo, met with Planning, Development, and Special Initiatives Minister Ahsan Iqbal, on Thursday in Islamabad to discuss potential economic collaboration.
The CAEDA outlined its vision to collaborate on multiple fronts, including the creation of the zero-tariff trade zone, enhancing Chinese import services, and tapping into Pakistan’s agricultural and investment potential.
Minister Iqbal emphasised the ongoing second phase of the China-Pakistan Economic Corridor (CPEC), which will focus on fostering B2B partnerships. He highlighted the advantage of Pakistan’s lower labour and production costs, which could attract Chinese industries to relocate and produce goods in Pakistan for export to international markets.
Iqbal also pointed out the opportunities in Pakistan’s agricultural sector, particularly in regions like Gilgit-Baltistan, where products such as cherries have export potential to China. He underscored Pakistan’s wealth in sectors like minerals, fisheries, agriculture, and textiles, all areas for potential Chinese collaboration.
Regarding Special Economic Zones (SEZs), the minister noted investment opportunities for Chinese businesses and stressed the need for a service centre to facilitate cooperation between enterprises from both countries. Iqbal further highlighted Pakistan’s long-term Economic Transformation Plan, aimed at boosting foreign investment and exports to address economic challenges, especially in the export sector.
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