LAHORE – Zafar Iqbal, Vice President of the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI), revealed during a meeting with the executive body that approximately 2,300 Chinese companies are actively operating in Pakistan. These companies, ranging from small to large-scale enterprises, are investing across diverse sectors, including the China-Pakistan Economic Corridor (CPEC).
Expanding Investment Horizons
Iqbal highlighted Chinese interest in key sectors such as electronics, automotive, education exchange programs, insurance, agriculture, textiles, chemicals, real estate, and battery recycling. He emphasized that these collaborations could boost Pakistan’s industrial capabilities and foster economic growth.
Focus on Chemical and Textile Industries
Discussing Pakistan’s chemical industry, Iqbal noted its critical role as a supplier to multiple sectors, including textiles, agriculture, pharmaceuticals, and food production. He called for efforts to establish a global “Made in Pakistan” brand and suggested collaboration with bodies like the All Pakistan Textile Mills Association and Punjab Board of Investment and Trade to modernize outdated textile technology.
He also highlighted Pakistan’s status as the 8th largest exporter of textile products in Asia, with the sector contributing 9.5% to the GDP and employing 15 million people, or 30% of the national workforce.
Opportunities in Biochemical Industry
Iqbal underscored the potential for cooperation in the biochemical sector, which is transforming the traditional chemical industry with advancements in biotechnology. He described it as a “new engine of growth” and urged joint ventures to leverage China’s expertise in this field.
Strengthening Pakistan-China Ties
In his concluding remarks, Iqbal reaffirmed PCJCCI’s role as a bridge between the business communities of Pakistan and China, advocating for government support to unlock opportunities for young entrepreneurs and boost technological advancements.
