December 2, 2024 - The Embassy of Pakistan in China hosted a China-Pakistan B2B Conference focusing on animal feed, fruit and vegetable processing industries, aiming to enhance economic cooperation and investment ties between the two countries.
With the participation of over 200 representatives from business groups in Weifang, Qingdao, Karachi and other cities in China and Pakistan, the meeting witnessed the signing of 13 MoUs worth RMB 250 million, ranging from importing citrus, seafood and animal feed from Pakistan to China, to establishing joint ventures in Pakistan, China Economic Net (CEN) reported.
Pakistani representatives provided detailed insights into the investment potential of Pakistan's animal feed processing industry.
Several incentives for foreign investors were highlighted, including 100% foreign ownership, unrestricted profit and dividend repatriation and zero import tariffs on factory equipment and machinery.
According to Ghulan Qadir, Commercial Counsellor at the Embassy of Pakistan, Pakistans advantages in tariffs, labour costs and raw materials could increase profit margins for businesses in the animal feed sector, particularly in the production of additives and supplements, by up to 3.6%.
He emphasised that the Pakistani government is committed to creating a more business-friendly environment and has already addressed issues such as remittance challenges faced by Chinese companies.
Zhu Qianqiu, President of Cross-Border Trade Development Committee, China told CEN that his Committee is pushing for the establishment of a zero-tariff zone in Pakistan for the trade of bilateral commodities.
The Global MillerThis blog is maintained by The Global Miller staff and is supported by the magazine Milling and Grain
which is published by Perendale Publishers Limited.
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