ISLAMABAD: Around 150 Pakistani companies are taking part in an international service trade fair being held in China, Pakistan’s privatization minister said this week, announcing that the event would serve as an “excellent opportunity” to enhance investment in the South Asian country.
The China International Fair for Trade in Services (CIFTIS) 2024 kicked off in Beijing on Sept. 12, Thursday. Scheduled to run till Sept. 20, over 2,000 companies from 107 countries around the world are taking part in the international event. The fair reflects China’s eagerness to work with the international community to seize opportunities in a fast-evolving global economy.
China is an important trade and investment partner for Pakistan. Chinese investment and financial support since 2013 have been key for Pakistan’s struggling economy, including the rolling over of loans so that Islamabad is able to meet external financing needs at a time when its foreign reserves are critically low.
In his virtual address to the fair, Pakistan’s Investment and Privatization Minister Abdul Aleem Khan spoke about the “ample scope” for investment in agriculture, livestock, food processing and minerals sectors in Pakistan.
“Abdul Aleem Khan said that this international event will be an excellent opportunity and positive step for investment [in Pakistan] with great expectations,” Pakistan’s privatization ministry said in a press release.
It said that Pakistan would ensure all possible support for investments from China, adding that the country was keen on availing opportunities offered by special economic and export processing zones.
Khan noted that Pakistani companies were getting more opportunities to increase their business-to-business activities with China to establish or shift industries to Pakistan.
“He indicated that under CPEC, transport, infrastructure, energy and communication in Pakistan has been developed visibly and there has been a significant improvement in these sectors,” the ministry said, referring to the China-Pakistan Economic Corridor project.
CPEC is a flagship of Beijing’s Belt and Road Initiative through which it has pledged over $60 billion in investment projects in Pakistan. Various power and infrastructure projects have already been built in the South Asian country under CPEC but the implementation of various projects has slowed in recent months.
Pakistan’s Prime Minister Shehbaz Sharif visited China in June on a five-day trip. Sharif’s visit was aimed at upgrading and enhancing CPEC projects, strengthening bilateral ties and fostering stronger ties between the business communities of the two countries.
Around 150 Pakistani companies take part in international trade fair in China
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Around 150 Pakistani companies take part in international trade fair in China
- Over 2,000 companies from 107 countries are taking part in fair scheduled to run till Sept. 20
- Pakistani minister says trade fair to serve as “excellent opportunity” for investment in country
Pakistan expresses concern over Yemen crisis, reaffirms solidarity with Saudi Arabia
- Saudi-led coalition forces on Tuesday conducted a “limited” airstrike targeting two shipments of smuggled weapons coming from Fujairah
- Pakistan’s foreign office calls for dialogue and diplomacy to resolve Yemen’s crisis, reiterates support for the country’s territorial integrity
ISLAMABAD: Pakistan’s foreign office spokesperson on Wednesday expressed concern over the resurgence of violence in Yemen, expressing solidarity with Saudi Arabia and calling for dialogue and diplomacy to resolve ongoing tensions in the country.
The development takes place a day after the Saudi Arabia-led Coalition to Support Legitimacy in Yemen said it conducted a “limited” airstrike targeting two shipments of smuggled weapons and other military hardware coming from the Emirati port of Fujairah into Mukalla in southern Yemen.
Major General Turki Al-Maliki, spokesperson of the coalition forces, said the weapons were meant to support the Southern Transitional Council (STC) forces, backed by the UAE, in Yemen’s Hadramaut and Al-Mahra “with the aim of fueling the conflict.” Shortly after the airstrikes, Rashad Al-Alimi, the head of Yemen’s presidential council, told Emirati authorities to withdraw their troops from Yemen within 24 hours.
Disregarding previous agreements with the Arab Coalition, the STC separatist group launched a sweeping military campaign early in December, seizing the governorates of Hadramaut along the Saudi border and the eastern governorate of Al-Mahra in Yemen’s border with Oman.
“Pakistan expresses deep concern over resurgence of violence in Yemen,” the foreign office spokesperson said in a statement.
“Pakistan reiterates its support for the unity and territorial integrity of Yemen, as well as all efforts aimed at establishing lasting peace and stability in the country.”
The foreign office said it opposes unilateral steps by “any Yemeni party” that could further escalate the situation, undermine peace efforts and threaten the country’s stability.
“Pakistan welcomes regional efforts for de-escalating the situation and maintaining peace and stability in Yemen,” the statement said. “Pakistan expresses complete solidarity with the Kingdom of Saudi Arabia and reaffirms its commitment to security of the Kingdom.”
The statement concluded with Islamabad calling for dialogue and diplomacy to resolve tensions in Yemen. It also urged regional powers to work together for an “inclusive and enduring settlement of the issue.”
The STC’s advance has raised the specter of the return of South Yemen, a separate state from 1967 to 1990, while dealing a blow to slow-moving peace negotiations with Iran-backed Houthi rebels.
Saudi Arabia on Tuesday expressed regret over what it described as pressure by the UAE on STC forces to carry out military operations in Yemen’s Hadramout and Al-Mahra governorates, warning that such actions pose a direct threat to the Kingdom’s national security and regional stability.
The UAE announced the withdrawal of its remaining counter-terrorism units in Yemen on Tuesday, citing recent developments and concerns over the safety and effectiveness of ongoing operations.
It earlier reaffirmed its unwavering commitment to Saudi Arabia’s security and sovereignty, rejecting any actions that could threaten the Kingdom or undermine regional stability.
PAKISTANI PM MEETS SAUDI ENVOY
Prime Minister Shehbaz Sharif separately met Saudi Ambassador Nawaf bin Said Al-Malki at the Prime Minister’s House, a statement from Sharif’s office said on Wednesday.
Both sides discussed bilateral relations between Pakistan and Saudi Arabia, including recent regional and global developments, the Prime Minister’s Office (PMO) said.
“The prime minister underscored the importance of dialogue and diplomacy in maintaining peace and stability,” the PMO said.
Sharif, along with Dar and other officials, separately met UAE President Sheikh Mohamed bin Zayed Al-Nahyan on Tuesday. The UAE president is on a private visit to the Pakistani city of Rahim Yar Khan following his first official visit to Islamabad earlier this month.
“The two leaders also discussed ways to enhance cooperation in a wide range of areas including IT, energy, mining & minerals, as well as defense cooperation,” Sharif’s office said on Tuesday.
