Nine Chinese companies are set to initiate long-term development projects in Pakistan, organizers of Pakistan Industrial Expo 2021 said.
More than 100 Chinese companies participated in the 5th Pakistan Industrial Expo 2021 (October 29-31) through both physical and online participation.
The previous four editions of Pakistan Industrial Expo attracted 31 Chinese companies who are cooperating with local ones to set up assembling plants or technology exchange. Numerous Pakistani associations and chambers also visited the venue and signed Memorandums of Understanding (MoU) with the organizer.
The organizer Everest International, announced that the Chinese and Pakistani companies had signed intended cooperation agreements (ICAs) worth US $ 34 million in different sectors including construction, engineering, manufacturing and technology transfer. They said at least 9 Chinese companies are considering to start long-term development projects in Pakistani market as a result of interaction between both sides at the expo.
Encouraged by the results, organizer Everest International Expo has also set up a ‘permanent display center’ in Lahore to showcase Chinese products for physical inspection by the local industry representatives before further negotiations between both the sides.
Despite the COVID-19 situation, Pakistan and China have been able to sustain a healthy economic and investment partnership and it is now high time to join hands for a much-needed economic and investment rebound. This is the best possible solution to bring businesses from both countries together for rejuvenation of bilateral investment cooperation, commented Chris Zhou, Deputy General Manager of Everest International Expo.