Representatives from Zhejiang Ruian Municipal Government and the Consulate General of Pakistan in Shanghai held an online trade and investment matchmaking meeting. According to China Economic Net (CEN) on Tuesday, the two sides conducted in-depth discussions on trade and investment cooperation in luggage and other key industries in Ruian City, and reached consensus on accelerating bilateral cooperation.

At the meeting, Hussain Haider, Consul General of the Consulate, stressed Pakistan’s demand for middle and high-end luggage and bags and explained the trade and investment policies of Pakistan. He pointed out that Pakistan's overall policy on foreign investment is lenient, and foreign investors are free to invest in Pakistan except in a few prohibited sectors, with no shareholding limit.

“Under China-Pakistan Economic Corridor, Pakistan is introducing more favorable reform measures to attract Chinese investment, which will also create better conditions for Ruian enterprises to do business in Pakistan,” Haider said. Ruian, a major manufacturing hub for bags, leather shoes, auto parts and electrical equipment in east China’s Zhejiang province, is rapidly developing an export-oriented economy. 

In these areas, both China and Pakistan have complementary industrial structures and strong demand for cooperation, which has laid a solid foundation for bilateral industrial cooperation. Chen Peng, vice mayor of Ruian, proposed to promote China-Pakistan cooperation on a regular and systematic basis. He also sent an official invitation to Haider, hoping he would lead a delegation to Ruian for a field visit and looked forward to early results of bilateral cooperation.

Haider hoped to hold an online "B2B" matchmaking meeting for business representatives of both sides to achieve direct dialogue between trade and investment circles, and hold an offline investment conference to accelerate the implementation of cooperation projects. Representatives from Ruian Bureau of Commerce, Municipal Council for the Promotion of International Trade, and Ruian Luggage Industry Association attended the meeting.

Credit : Independent News Pakistan-INP