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German truck maker MAN SE to set up assembly plant in Pakistan
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German truck maker MAN SE to set up assembly plant in Pakistan
Company also expected to export trucks from country, say industry officials
By Farhan Zaheer
Published: March 2, 2017

Company also expected to export trucks from country, say industry officials. PHOTO: REUTERS

KARACHI: German truck maker MAN SE is at an advanced stage of setting up a plant in Pakistan, industry officials say.

Forecasting greater demand of heavy vehicles under the China-Pakistan Economic Corridor (CPEC), vehicle manufacturers are flocking to Pakistan to explore opportunities of investment with MAN SE being the latest addition to the growing list.

Europe to be largest market for Pakistan’s textiles

MAN SE, which has been watching the Pakistan market for over five years, is expected to officially announce its decision within a couple of months.

It is pertinent to mention that 75% of MAN SE’s ownership rests with the Volkswagen Truck and Bus GmbH, a wholly-owned subsidiary of Volkswagen AG.

Industry officials say this is a big development for Pakistan because the company is also expected to export trucks from the country.

The National Logistic Cell (NLC) is expected to give significant orders to MAN SE because Pakistan’s leading logistic company is looking to replace its old fleet, an auto industry official informed.

Officials from the German company are also coming to Pakistan to participate in the Pakistan Auto Show (PAPS) 2017, being held from March 3 at the Expo Centre, Karachi.

CPEC is expected to generate huge demand for trucks in Pakistan and industry officials say Pakistani companies like NLC would prefer to use German trucks due to quality concerns. Local industry officials say German trucks are better placed to commute on extraordinary high altitude of Karakoram Highway (KKH) – one of the highest paved roads in the world that connects Pakistan and China.

In February 2012, German Embassy’s Commercial Section Head Samy Saddi, while talking to media, said that German auto giant MAN was looking at Pakistan as a potential market.

The 250 year-old company operates through fully owned subsidiaries or joint ventures with local companies in India, Poland, Turkey, China, the US, the UAE South Africa, Uzbekistan, Portugal etc.

After years of stagnant economic activity and poor automobile sales, Pakistan is witnessing huge demand in heavy vehicles due to CPEC, macroeconomic stability and relative improvement in the country’s security situation.

Earlier, it was reported that Volkswagen Commercial Vehicles is in final talks with Premier Systems Private Limited – the authorised importer of Audi vehicles in the country – to set up a manufacturing/assembly plant for its Amarok and T6 (transporter range) models.

17 predictions for Pakistan’s economy in 2017

In the past year, a number of international auto makers have expressed interest to set up manufacturing plants in Pakistan.

France’s Renault and South Korea’s Hyundai and Kia have announced they will soon start assemblies in Pakistan, in partnership with local companies.

This will mark a return for Kia and Hyundai, which left in the previous decade when their local partner suffered financial problems.

Published in The Express Tribune, March 2nd, 2017.

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[Introvert]

Pakistani firm to supply automotive rubber parts to EU

ISLAMABAD: Darson Industries Pvt Ltd Wazirabad, manufacturer of automotive rubber hose pipes and rubber moulded parts, signed a collaboration agreement with Butsch GmBH Germany for the sale of automotive rubber products to vehicle manufacturing industry in Germany and other European countries.

Thomas Butsch, CEO of Butsch GmBH, a leading company in Europe which has 12 million euro turnover in 2015-16, and Abdul Hamid, CEO of Darson Industries, signed the document at the Pakistan Pavilion of Hannover Messe 2017, one of the world's largest trade fairs being organised by the Engineering Development Board (EDB) in collaboration with the commercial office, Embassy of Pakistan, Berlin.

Under the agreement, Darson will be the manufacturing hub, while Butsch will act as a holding, distribution and customer services representative in Germany. The Darson and Butsch synergy will provide Darson with access to European automakers. Darson and Butsch will together develop the products and place them in serial production.

It is pertinent to mention that the two companies met at Hannover Messe in 2016 and negotiations were set in.

Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) Chairman Mashood Ali Khan, who is participating in Hannover Messe 2017 as an organiser of the group, highlighted that promotion of engineering sector needed efforts on a long-term basis. "The Darson-Butsch collaboration is an example of the continued participation, which will increase the confidence of German and other European buyers in Pakistani auto parts manufacturers as well."

The PAAPAM chairman appreciated the continuous efforts of the EDB, which resulted in converting opportunities into real businesses.

The Engineering Development Board CEO congratulated the management of Darson and Butsch for entering into a new business relationship, and assured them of his full support for all such future developments. He reiterated that Pakistan could only increase its exports significantly through enhancement of value added engineering exports and providing such platforms for establishing technical linkages.

Meanwhile, the EDB organised a seminar in collaboration with the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) and the Embassy of Pakistan in Berlin during the exhibition. Approximately 30 industrialists from different countries, mainly China, Thailand, Germany, France and Turkey, attended the seminar.

Mashood Ali Khan highlighted the business potential in Pakistan and the incentives being offered to the new investors under different schemes of the government, which included incentives under the special economic zones, national industrial parks and export processing zones. He highlighted that under the new Automotive Development Policy (ADP 2016-21), lucrative incentives had been offered to the investors in the Greenfield investment category - the new investment in vehicle manufacturing. The investors appreciated the efforts of Pakistani government to attract investment in the country through provision of incentives to vehicle manufacturers and assured that they would soon visit Pakistan to discuss the possibilities of doing business in Pakistan.

The commercial councillor, Embassy of Pakistan, also expressed his views on the business opportunities available in Pakistan and appreciated the efforts of the EDB for organising one of the largest participation of engineering industry of Pakistan in the specialised international fair attracting investment in the engineering sector.

He welcomed the participants to discuss their plans for technology tie-ups/joint ventures with the management of the EDB/Ministry of Industries and Production, who are working hard to uplift various industrial sectors in the country.

The international visitors appreciated the ambiance at the Pakistan Pavilion and the hospitality shown. While visiting the pavilion, the quality of engineering goods being manufactured by Pakistan was also admired.

The participants showed interest in having business ties with Pakistani engineering companies in the form of joint venture agreements, technical collaborations and licensing agreements.

http://dailytimes.com.pk/business/29-Apr-17/pakistani-firm-to-supply-automotive-rubber-parts-to-eu

 

[Introvert]

Turkish companies’ investments in Pakistan stand at $900m

Turkey and Pakistan are enjoying deep-rooted and time-tested relation of brotherhood. The excellent bilateral relations are already being transformed into a vibrant economic partnership as both countries want to build strong and mutually advantageous relations.
Turkish companies’ investments in Pakistan currently stand at US$ 900 million. There were various areas for Turkish investors – to explore in the vibrant and potential sectors of tourism, information technology, food processing, agro-based products, dairy development, hotel industry and resorts development. Both countries agreed to enhance bilateral trade to US $3 billion within the next two years besides signing 11 agreements and MoUs for cooperation in various fields.
While having a look on trade statistics, Pakistan and Turkey bilateral trade volume is just US$ 599.7 million comprising of Pakistan’ export to Turkey $310.5 million and imports from Turkey US$ 289 million in 2015. With the implementation of Free Trade Agreement (FTA) both countries will come closer to each other and will open a new horizon in economic and commercial ties.
Turkey-Pakistan Business Council and the Union of Chambers and Commodity Exchanges of Turkey are closely cooperating with the Federation of Pakistan Chambers of Commerce and Industry to provide platforms for increasing interaction among the business communities.
Turkish and Pakistani business communities are also cooperating at the regional and trilateral level in the organizations and mechanisms such as the Federation of D-8 Chambers of Commerce and Industry and Economic Cooperation Organization (ECO), Chambers of Commerce (ECO CCI) and Istanbul Forum for Economic Cooperation between Turkey, Afghanistan and Pakistan.
Turkish textile companies with their developed technical capabilities and investment capacity were also encouraged to explore this sector for joint ventures. Infrastructure is another area where Turkish companies have extensive international experience. Turkish contractors have undertaken 8,693 projects in 107 countries with a total value of US$ 322.6 billion. At present 42 Turkish companies are included among the ‘Top 250 International Contractors List’ with an annual turnover of US$ 19.3 billion in 2015.
With this figure Turkey ranked second in the world after the People’s Republic of China. On the other hand Turkey is among the world’s top 12 producers of building materials such as cement, glass, steel and ceramic tiles. Despite the effects of global crisis in the international markets that have been felt in 2008 and aftermath, Turkish international contracting services fared quite well in this period. As an economic expert, it is suggested that Pakistan should make use of expertise of Turkey in various sectors particularly in development of infrastructure, construction, energy and information technology.
Role of TOBB chairman Rifat Hisarcýklýoðlu the Union of Chambers and Commodity Exchanges of Turkey (TOBB), the country’s leading business organization and of Chairman of Tumsiad Yaþar Doðanrole for opening Tumsaid Pakistan branch for Turkish businessmen at Pakistan aim to increase trade between Pakistan and turkey up to 2 billion USD signing of free trade agreement with Pakistan which is the world’s 6th most populous country with 190 million citizens attracts attention of businessman by opening a new branch is appreciated, TOBB and Tümsiad will try to seize an opportunity at Pakistan which is the market already suitable for Turkish businessmen whose willing to be effective in sectors such as construction, energy, infrastructure, communications, automotive industry, plastics, iron and steel, food, paper, glass, cosmetics.
The free trade agreement which is signed between Turkey and Pakistan for increasing the volume of current trade, has converted this market to be attractive for Turkish businessmen. Pakistan is the world’s fourth largest producer of milk, fourth largest holder of livestock, fifth largest producer of wheat, among top rice producers and of course in mango production as well, which are potential business windows for foreign investor.
Pakistan and Turkey have been indispensable partners working assiduously to promote peace and prosperity for their people and the region. People-to-people connections were also of great importance for fostering connectivity and integration between Turkey and Pakistan.The writer is a prominent social activist and an economic expert on Pakistan Turkey relations.

http://pakobserver.net/turkish-companies-investments-in-pakistan-stand-at-900m/

 

[ashok321]

IMF says Pakistan outlook 'favourable', warns of risks

 

[ashok321]

http://www.economist.com/news/economic-and-financial-indicators/21723831-output-prices-and-jobs

April 2017 Industrial production of India = 3.1%
April 2017 Industrial production of Pakistan 10%

 

[Danish saleem]

Positive Indicators thorugh out~

1. Agriculture sector performing ok
2. Industrial Growth Steady
3. Inflation under control
4. Massive investments in Infra Structure Development.

 

[Introvert]

Canadian companies explore investment opportunities in Pakistan

It is a fact that Pakistan is emerging as a trading nation, primarily because of its location at the crossroads of South Asia, China, Central Asia, West Asia and the Indian Ocean. With its liberal pro-investment policies, Pakistan is a combination of a rapidly growing economy with a highly skilled and moderately priced workforce. Pakistan’s economy has shown a relatively well economic trend for the last few years.
Numerous Canadian companies are already exploring opportunities in Pakistan in various sectors, including solar energy and information technology. However, our economic ties haven’t been reached to its true potential. In a report by Statistics Canada, bilateral merchandise trade alone topped the $1 billion mark in 2016, depicting a 49%.
A recent meeting was held between Pakistan’s Finance Minister – Ishaq Dar, and the Canadian High Commissioner – Perry Calderwood, where the commissioner said “a robust economic growth and a visible improvement in the security situation in Pakistan had provided a good opportunity for further strengthening economic and business linkages between the two countries”.
The President of All Pakistan Business Forum (APBF) – Mr. Ibrahim Qureshi expressed his opinion over Pakistan and Canada’s economic relations and said: “Pakistan and Canada have been traditionally enjoying friendly relations over the years, with close co-operation in development, people-to-people contacts and regional security. Pakistan’s exports value at $350 million+, whereas Canadian exports totaled $690 million. Canada has vast business opportunities in Pakistan, such as oil, gas and minerals exploration, information technology, agro-business and power generation.”
The current state of bilateral ties including economic cooperation between Pakistan and Canada were discussed along with the steps that had been taken to reactivate the bilateral Trade and Investment Working Group to help promote economic cooperation. The Canadian High Commissioner also encouraged Canadian investors and firms to explore and benefit from the business and investment opportunities available in the country.

https://pakobserver.net/canadian-companies-explore-investment-opportunities-pakistan/

 

[Introvert]

Sri Lankan delegation in Pakistan to finalise export of 300,000MT of rice

A Sri Lankan delegation has arrived in Pakistan to finalize the issue of exporting 300,000 tons rice to Sri Lanka.

A high level Sri Lankan delegation has started bilateral negotiations for reaching the final agreements to export non-basmati rice to Sri Lanka, Senior official of ministry of commerce told the Associated Press of Pakistan (APP) on Monday.

A meeting in this regard would be held here Monday headed by Secretary Commerce Younas Dhaga in which the two side would discuss the modus operandi and procedure for exporting non-Basmati rice to Sri Lanka, he said.
Pakistan produces roughly 700,000 tons of rice annually, and is leading the regional countries in production of Basmati and non Basmati rice,official said.
He said the government would support the Sri Lankan delegation for talks at government to government, and government to business level.
The official said that Trading Corporation of Pakistan (TCP) and representative of local rice association were also participating in negotiation.
He said that domestic production of rice in Sri Lanka was low and they are willing to import non Basmati rice from Pakistan. It may be mentioned here that Free Trade Agreement (FTA) between Pakistan and Sri Lanka was operational from 2005.
He said under the FTA, both of the country have already agreed to offer preferential market access to each others’ exports by way of granting tariff concessions.
Additionally, he said according to FTA, Sri Lanka would be able to enjoy duty free market access on 206 products in the Pakistani market including tea, rubber and coconut. Pakistan, in return, would gain duty free access on 102
products in the Sri Lankan market,including oranges, basmati/non basmati rice and engineering goods.

http://www.sundaytimes.lk/article/1...kistan-to-finalise-export-of-300000mt-of-rice

 

[Introvert]

Iran, Pakistan Optimistic over Trade Turnover

Iran and Pakistan are optimistic they would achieve the target of $5 billion USD bilateral trade in coming years despite some hurdles.

In an interview with Iran's news agency, IRNA, Bilal Khan Pasha, a high ranking official at Pakistani Commerce Ministry, said that Tehran and Islamabad are holding talks to take full advantage of the potential of their bilateral trade.

'Iran and Pakistan are enjoying complementary trade capacities,' as the two countries produce items that both of them need, said Khan Pasha.

He added that right now under the Preferential Trade Agreement (PTA) only 300 items are covered in the range of 7,000 plus items.

'To achieve the figure of $5 billion USD, we immediately need to increase that list. We need to pay more focus on the things which are in demand and Pakistan can export like agriculture items, textiles, rice and many other things to Iran and can import petroleum products, cement and other chemicals,' the Pakistani official suggested.

At the moment, Tehran and Islamabad are now holding the second round of negotiations on Free Trade Agreement in the Pakistani capital.

Last year, trade turnover between Iran and Pakistan increased to more than $1 billion which shows a growing trend after the nuclear deal between Tehran and six world powers, formally named Joint Comprehensive Plan of Action.

http://www.plenglish.com/index.php?o=rn&id=15477&SEO=iran-pakistan-optimistic-over-trade-turnover

 

[Introvert]

Pakistan is hoping that $2 billion will make its way into the country as it seeks investment in its auto sector with the arrival of four new companies.

Under the auto policy, four companies have been granted permission to set up their assembly/manufacturing plants in Pakistan. It had been reported in June that three companies were granted permission by the government, a move that would result in a total investment of $372 million.

However, a government official with knowledge on the matter said that authorities are expecting a total of $2 billion to make its way into the country as the number of companies interested in setting up their plants goes up.

Auto sales jump to 20,720 units, up 21.5%

“One plant needs an investment of around $500 million,” the official told The Express Tribune. “Hence, we hope and believe that these four auto manufacturing plants will invest $2 billion in the automobile industry.”

He added that within a week, two more firms be allowed to set up plants which is expected to attract around $1 billion as investment.

Meanwhile, he said that a total of nine companies had applied to set up new manufacturing plants and four had been granted permission already, whereas two had completed documents and would be given the go-ahead in a week.

It was earlier reported that United Motors Private Limited, Kia-Lucky Motors Pakistan Limited and Nishat Group, which is collaborating with Hyundai, have been granted permission. Moreover, the official said that Regal Automobile Industries Limited Karachi has also been given permission.

Three companies get approval to set up car assembly plants in Pakistan

The remaining five entrants who have applied include Habib Rafiq Private Limited, Khalid Mushtaq Motors, Pak-China Motors, Foton JW Auto Park, and Cavalier Automotive Corporation.

According to a statement, a follow-up of the meeting held on June 6, was arranged on Wednesday in the Conference Room of the Board of Investment. The meeting was co- chaired by the Secretaries, Industries and Production and Board of Investment.

Officials of Board of Investment, Ministry of Industries and Production and Engineering Development Board also attended the meeting. Four awardees of ‘Greenfield’ status were also present and appreciated efforts in finalising investment proposals.

Under the new automobile policy, approved in March 2016, the government has allowed one-off duty-free import of plant and machinery for setting up an assembly and manufacturing facility. It has also permitted import of 100 vehicles of the same variant in the form of completely built units (CBUs) at 50% of the prevailing duty for test marketing after ground-breaking of the project.

A major incentive for the new investors is the reduced 10% customs duty on non-localised parts for five years against the prevailing 32.5%.

Similarly, localised parts can be imported by new entrants at 25% duty compared to the current 50% for five years. A-category investors will be entitled to import of 100% parts at 10% customs duty for a period of three years in respect of passenger cars below the 800cc category.

They will also be entitled to import 100% parts at prevailing custom duties applicable to non-localised parts for a period of three years in respect of buses, trucks, tractors and prime movers.

Published in The Express Tribune, July 13th, 2017.

https://tribune.com.pk/story/1456683/pakistan-looks-inflow-2b-four-auto-companies-get-permission/

 

[Introvert]

Vietnam, Pakistan, Burma expected to drive 2018 global rice exports

Global rice trade is projected to increase 1% to 42.3 million tonnes in 2018, the third highest on record and the second consecutive year of expanded trade.

The U.S. Department of Agriculture’s (USDA) Economic Research Service (ERS) noted that a major factor behind the expanded trade in 2018 is increased exports from three of the top six exporters—Vietnam, Pakistan, and Burma. Vietnam’s 2018 exports are expected to increase 400,000 tonnes, to 6 million tonnes, due to increased demand from Southeast Asia, especially from the Philippines.

China is again forecasted to be the largest export market for Vietnam’s rice. Pakistan is projected to export 4.1 million tonnes of rice in 2018, up 100,000 tonnes from a year earlier, a result of a slightly larger crop, the USDA said.

Burma is expected to export 1.7 million tonnes of rice in 2018, up 100,000 tonnes from 2017, primarily due to stronger demand from regional buyers and the E.U.

In contrast, India’s exports are projected to drop 500,000 tonnes in 2018 due to a smaller crop and stronger domestic use. According to the USDA, Thailand’s exports are expected to be flat in 2018, while U.S. rice exports are projected to decline 50,000 tonnes as a result of higher prices and tighter supplies.

http://www.world-grain.com/articles/news_home/World_Grain_News/2017/07/Vietnam_Pakistan_Burma_expecte.aspx?ID={F5D0A983-7F41-4958-9C0E-F114C5702997}&cck=1

 

[Introvert]

Hong Kong to import Tuna fish from Pakistan

Pakistan has entered into business negotiation with a trade delegation from Hong Kong export world famous Tuna fish from Pakistan. In this respect a three member trade delegation comprising of importers of Sea Food from Hong Kong visited TDAP on 13th July 2017.The objective of visit of delegation is to place orders of Tuna Fish from Pakistan. The delegation had a meeting with Director General TDAP who briefed the delegates about potential of seafood export from Pakistan. The delegation informed that currently they are importing 1000 containers of seafood from the world.
TDAP have arranged the meeting of delegation with Chairman Pakistan Fisheries Exporters Association and leading exporters of seafood. The delegation had fruitful meetings with seafood exporters .It is expected that due to this visit Pakistani exporters will export around 50 containers of Tuna Fish to Hong Kong.
It is important to mention that Hong Kong is one of the potential market for seafood and their annual import of seafood is around US$ 3.3 billion. Due to visit of this delegation our exports of seafood to Hong Kong will increased.

https://pakobserver.net/hong-kong-import-tuna-fish-pakistan/

 

[Shahzaz ud din]

CPEC MAGIC-CAR SALES IN PAKISTAN REACH AN ALL TIME HIGH.

The stability in the economy, improvement in the security situation throughout the country and low interest and financing rates pushed up the sales of local automobile companies to record levels in the financial year of 2016-17, and reached 185,781 units.
These sales broke the record of the previous years’ numbers of 181, 145 units and also broke the six years old record of 164,650 units set in 2008-07
The outgoing financial year is the most impressive in the history of automobile industry in Pakistan having witnessed an incredible demand for local cars by the public outpacing the production capacity of different companies.
According to the statistics of Pakistan Automotive Manufacturers Association (PAMA), the sales of locally-assembled cars are more than 4,636 units than sales of previous financial year, which showed a good pace in growth especially without any Taxi scheme of the provincial government.
These sales numbers could have been much higher if the demands of the consumers were met. Main automobile players—Indus Motor Company, Pak Suzuki and Honda Cars have hired extra staff members to run their production even in off days but they have failed to meet the demand of local market in the outgoing financial year.
The impressive sales are excluding those of imported cars in Pakistan which have also seen high demand, particularly in the small cars segments.
1300 CC and Above Cars
The segment of high-end locally produced cars drove the overall sales of passenger cars as Toyota Corolla remained the first choice of Pakistan. Its sales dropped this year due to delays in the delivery of cars and the anticipation of new model in 2018.

 

[Introvert]

Qatar Chamber and Pakistan plan to set up joint factories

Business leaders from Qatar and Pakistan are mulling the establishment of joint factories in Qatar to provide various commodities to the local market and export the surplus, Qatar Chamber (QC) has said.
The plan was discussed recently by officials of Qatar Chamber during a series of business meetings with the Federation of Pakistan Chambers of Commerce & Industry in Pakistan’s capital, Islamabad.
During the meetings, QC also discussed ways to increase Qatar’s imports of Pakistani goods, Qatar Chamber said in a press statement. The deliberations, held from July 11 to 14, focused on enhancing co-operation ties between both parties in economic and trade sectors, including construction, building materials, foodstuff, textiles and furniture.
The meetings were attended by QC board member Rashid bin Hamad al-Athba and director-general Saleh bin Hamad al-Sharqi, who reviewed trade relations between Qatar and Pakistan.
Pakistan’s Minister of Commerce Khurram Dastgir Khan also held a meeting with the Qatari delegation to discuss ways of boosting bilateral relations particularly in the private sector.
Khan said the visit significantly reflected the strong ties of both countries. He also praised the Qatari businessmen’s confidence in Pakistan’s economy, and hoped the meeting would help expand co-operation and establish more ventures.
Al-Athba said Qatar’s delegation invited their Pakistani counterparts to visit Qatar to explore investment opportunities. The invitation was “highly welcomed by Pakistan and there is a large business delegation expected to visit Qatar soon”, he noted.
Meanwhile, al-Sharqi stressed QC’s interest in opening new channels of trade co-operation with all friendly and sisterly countries and to find new sources of imports.
He said there was a large trade exchange between Qatar and Pakistan, adding that the chamber sought throughout the discussions with the Islamabad chamber to increase Qatar’s imports from Pakistan, especially food items and building materials.
“Trade with Pakistan is witnessing rapid growth. The trade volume last year reached QR2.8bn from QR1.9bn and QR887mn in 2014 and 2015, respectively. Qatar’s exports to Pakistan in 2016 touched QR2.5bn, whereas Pakistan’s imports to Qatar were only QR317.7mn,” al-Sharqi said.

http://www.gulf-times.com/story/556743/Qatar-Chamber-and-Pakistan-plan-to-set-up-joint-fa

 

[Introvert]

Chinese delegation interested to invest in Pakistan’s agriculture sector

A delegation of Chinese entrepreneurs led by Lee of Ministry of Commerce, China visited Islamabad Chamber of Commerce and Industry (ICCI) on Monday and showed interest to make investment in Pakistan’s agriculture sector to produce silk worms, mulberries and many other agro products.

Speaking at the occasion, Lee said that Chinese entrepreneurs were looking for suitable land to set up an agriculture farm in the first phase and in the second phase they would set up a factory in Pakistan to produce silk.

He said their investment was likely to create 30,000 new jobs in Pakistan. He was of the opinion that the establishment of silk factory in Pakistan would make it self-sufficient in silk production and it will not have to import silk from China.

The Chinese delegation discussed many possibilities of investment in local agriculture sector as they considered Pakistan a potential country for business and investment in this sector.

Speaking at the occasion, ICCI President Khalid Iqbal Malik said that Pakistan was an agricultural country and it offered huge investment opportunities to foreign investors in various sectors of agriculture including crops, seeds and tree farming, livestock, dairy farming, milk processing.

He stressed that Chinese investors should bring in latest machinery and technology in agriculture sector that would help in improving Pakistan’s agricultural productivity and enhance its per acre yield.

He said by investing in Pakistan, Chinese investors could export agricultural products to Middle East, Central Asia, Europe, Afghanistan and many other countries.

He said Potohar region and District Chakwal were suitable for production of many agro products including silk worms, olive oil, mulberries, grapes and others. He assured that Islamabad Chamber of Commerce and Industry would fully cooperate with Chinese investors in identifying land for agriculture investment in this region.

http://nation.com.pk/national/17-Jul-2017/chinese-delegation-interested-to-invest-in-pakistan-s-agriculture-sector