Kashgar Chamber of Commerce and Industry Vice-President Zhang Shu Zhi says that Chinese businessmen are keen to explore investment oppurtunities, joint ventures and partnerships, with particular focus on the China-Pakistan Economic Corridor (CPEC) projects. Speaking at the Islamabad Chamber of Commerce and Industry (ICCI), Mr Zhi, who is leading a Chinese business delegation to Pakistan, said that two sides have agreed to work in the fields of roads construction, building materials, cement manufacturing, travelling and logistics, electricity generation, decoration material, food products.
Auto sector set to make big gains from CPEC
The demand for four-wheel vehicles will rise from 0.25 million to 0.5 million in Pakistan within the next 12 years, according to a report by the Small and Medium Enterprises Development Authority (Smeda). The report says that the China-Pakistan Economic Corridor (CPEC) will bring a lot of opportunities for the auto sector. This in turn will benefit the transport warehousing and freight forwarding services by further expanding the auto and logistics sector.
Pakistan guns to complete China FTA by December
The government has asked China to expedite the second Free Trade Agreement (FTA) and conclude the process by December, a senior official of the commerce ministry said. Delegations from both countries met in Beijing on Sept 14 for the eighth round of negotiations on the FTA. Pakistan now hopes to have a final agreement to sign before the end of the year.
Inequality, low wages weaken global growth: IMF official
A hollowing out of the middle class in advanced economies like the US, amid weak wage growth and rising inequality, is holding back global growth. Tao Zhang, the International Monetary Fund's deputy managing director, said the fund's economic growth forecasts due out next month, will show little change in the global recovery that is still relatively slow. "Nearly a decade after the global financial crisis, the global economy is getting better," Zhang told a gathering of business economists in Cleveland, Ohio. The IMF in July forecast global economic growth of 3.5 percent this year, up from 3.2 percent last year, and accelerating to 3.6 percent in 2018.
Pak-Thailand: 9th round of FTA talks to be held in Nov
Pakistan and Thailand agree on presenting the complete offer list for items to be included in the Free Trade Agreement (FTA) by October 15, 2017, for concluding the deal, official sources said. The ninth round of talks between Pakistan and Thailand will be held from November 14-15 in Thailand to reach a final decision on the bilateral FTA, they added. Pakistan wants concessions on 100 products which Thailand has granted to other FTA partners as well.