Commerce Minister for barter trade business model to increase exports
Federal Minister for Commerce Syed Naveed Qamar on Thursday appreciated the barter trade model and said that the same could be used to enhance exports.
He said that framework on barter trade model has been approved by the Federal Cabinet.
The minister said this during a meeting with a Chines business delegation led Mr. Hou Jianxin, Chairman Shandong Xinxu Group Corporation China, held here in the Minister’s Office.
Syed Naveed Qamar said that China is playing a significant role in the economic development of our country however the barter trade model will inject new energy to the bilateral trade.
He also assured full support of Pakistani government to the Chinese Companies to enhance export volume of the country.
Mr. Hou Jianxin, said that while taking the benefit of the decision of Shandong government, a Chinese province to shift Chines industry to the Pakistan, he came up with the vision to build industrial park in Pakistan.
The Industrial Park will serve as a focal point for all the industrial requirement of Pakistan from China and vice versa, he continued.
The Chairman said, the projects like solar panels assembly plant, metal refining plants, fertilizer production plant, food processing plants (dry milk production, seafood processing, meat processing) etc. are being considered for future investment.
He said Pakistan and China enjoy strong relations and expressed the hope that the trade and economic ties between the two countries would be further cemented with the passage of time.
Syed Naveed Qamar appreciated the decision of the Shandong government to shift its industry to the Pakistan, which would not only save foreign reserves of the country but also create job opportunities in the country.
However the minister sought comprehensive proposals from the Chinese companies who are interested in shifting their businesses to Pakistan, which would be forwarded to the Board of Investment (BOI) for expediting the investment process.
