Joint vebtures needed to improve Iron & Steel sector: Mr. Lon Zou

Lahore: Head of the three member Chinese delegation Lon Zou on Monday called for joint ventures in Iron & Steel sector which would help Pakistani entrepreneurs to get modern technology.

He was speaking at the Lahore Chamber of Commerce & Industry on Monday. LCCI President Ijaz A. Mumtaz presided over the meeting while Senior Vice President Mian Nauman Kabir, Vice President Syed Mahmood Ghaznavi, former President Shahzad Ali Malik, Lin Shixing and Zou Gaojie also spoke on the occasion.

Mr. Lon Zou said that Pakistani businessmen should take full advantage of free access to Chinese market and increase their exports. He said many Chinese entrepreneurs are looking to establish joint ventures in Pakistan. He asked the local entrepreneurs to identify the feasible projects and negotiate with their Chinese counterparts.

Speaking on the occasion, LCCI President Ijaz A. Mumtaz said joint venture between Pakistani and Chinese businessmen could take the mutual trade volume to the new height.

The LCCI President said that Lahore has a special significance being the hub of business activities in Punjab. He said that both public and private sector organizations are striving hard to fully exploit the trade and investment potential of Punjab in collaboration with foreign investors.

He said that in the present economic scenario when Pakistan is facing acute energy crisis and desperately needs foreign investment to get out of this situation, the need and importance of high level meetings between the heads of states cannot be overemphasized.

Ijaz A. Mumtaz said that China is an important trading partner of Pakistan. It is the second largest importing country after UAE and regarding top exporting countries of Pakistan, China comes at second place after USA.

He said that through developing private to private contacts, we can further strengthen our trade relations. Private sectors of both countries need to interact on regular basis for exploring more avenues for trade expansion and opportunities for investments.

The LCCI President invited the Chinese investors to come here and exploit the vast untapped potential of Punjab.

He said that we need to forecast the upcoming potential of business opportunities which will emerge after the completion of Gawadar Port.

He said that both China and Pakistan can equally gain benefit from this port which can prove to be a decisive factor in turning around our economic condition.

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