Shanghai Free Trade Zone to benefit Pak businessmen: China

SHANGHAI: Director General Bureau of External Communications of SHFTZ Wang Ying has said Shanghai Pilot Free Trade Zone is an important part of the China’s One Belt One Road project, urging Pakistani entrepreneurs to benefit from it.

While briefing a group of Pakistani newsmen on the Economic Free Zone, he said that it would have numerous advantages for Pakistani businessmen and would provide them an opportunity to introduce their products and expand their ventures outside of their borders.

Highlighting its significance, Wang Ying said so far 16 countries from the Central and Eastern Europe have their presence and pointed that special facilities are being extended to foreign investors, besides a one-window operation to cut down business costs and time, adding that SHFTZ would like to have a Pakistani pavilion along with those of other countries and said it would be a big boost for Pakistani companies.

He said the strong bonds between Pakistan and China can be translated into stronger economic ties with the availability of a modern Free Trade Zone, adding that

The economic zone established in 2013 is spread over in an area more than 120 km along the golden coast of the East China Sea comprises is touted as opening of a new chapter in China’s opening up and embarking on a new path. It has registered 23,243 companies, 14,860 of them newly registered and 2,342 foreign-funded.

The Waigaoqiao Free Trade Logistics Park serves as a centre for multinational companies to export and source products in northeastern Asia, and can import non-ferrous metals and information technology components. The Yangshan Free Trade Port has attracted companies in industries such as information technology, electronics, automobiles and auto parts, food processing and name-brand clothing. The port currently is the fastest growing and most profitable of China’s 15 free trade ports.

As per deatails, the journalists were on a short-term training program at the Renmin University, Beijing organized by the Chinese embassy at Islamabad and was aimed at enhancing mutual understanding and exchange between Chinese and Pakistani media.

The media team also visited Sinopec, and had an extensive interaction with leading Chinese personalities dealing with the Media, Mass Communications, Energy, Education and Economy.

Professor Zhong Xin of Renmin University’s School of Journalism said frequent interaction among representatives of media and other institutions helped increase cooperation between people of the two countries.

Executive Vice Dean University School of Public Administration and Policy Professor XU Gyang Jian said China wants to further strengthen ties with Pakistan especially in media and education.

Delivering a lecture on ‘Belt and Road Initiatives’, Associate Professor of Renmin University said China was the second largest oil user and the biggest user of energy in the world and was trying to develop environment friendly technology. He said CPEC project would help change the fate of entire region.