Chinese companies see Pakistan favorite destination for investment

Narrative Building China Pakistan Economic Corridor Pakistan My Country
Narrative Building China Pakistan Economic Corridor Pakistan My Country

BEIJING, July 10 (Correspondent): An official of Guangxi Qinzhou Free Trade Port from China’s Guangxi autonomous region has said that Pakistan has become a good destination for investment and strengthening economic cooperation.

Pakistan and China are enjoying very strong relationship and Chinese enterprises have foreign direct investment in Pakistan. Pakistan and China’s economic cooperation will be further strengthened in future.

Zhang Haoyang, official of Guangxi Qinzhou Free Trade Port Area management committee said they will built connections with ports along Belt and Road Initiative’s member countries including Pakistan to increase trade and economic cooperation.

While talking to a delegation of foreign journalists from Asian countries, he said that after construction and development, Qinzhou Free Trade Area has seen more than 19 billion yuan of investment.

Qinzhou Free Trade Area has attracted nearly 400 foreign and domestic enterprises to move in, establishing distinctive industries like shipping logistics, bulk commodity trade, vehicle import, liquor import, direct selling of international goods and cross-border e-commerce, cold-chain logistics and processing trade.

By March 2018, Qinzhou Bonded Port has achieved throughput of 54.38 million tons, container throughput of 2.24 million TEUs, total foreign trade value of 17.82 billion yuan and processing trade value of 16.6 billion yuan.

Totally 45 domestic and foreign sea routes have been opened in Qinzhou Free Trade Area, covering the main ports of East Asian and Southeast Asian countries, he said.

According to official information, Qinzhou Free Trade Area will be actively integrated into the construction of the Belt and Road initiative and the Southern Transport Corridor, and closely stick to the development strategy of the central government.

It will contribute to the development of new economic sectors such as cluster economy, headquarters economy, and platform economy, and transform itself into a key passenger linking with the ASEAN international corridor, a strategic pivot for the opening up and development in the southwest and central south of China, a front-line gateway to connect all key nodes along the Belt and Road, and a key hub for the new international land-sea trade channel.