LAHORE: As many as nine Chinese companies are considering long-term development projects in Pakistan as a result of interaction between both sides at the recently concluded three-day Pakistan Industrial Expo 2021.
According to a statement, the Chinese and Pakistani companies have reached intended cooperation agreements (ICA), worth $34 million, in various sectors including construction, engineering, manufacturing and technology transfer during the expo. Encouraged from the results, organiser Everest International Expo, has also set up a “permanent display centre” in Lahore to showcase Chinese products for physical inspection by the local industry representatives before further negotiations.
More than 100 Chinese companies participated in the 5th Pakistan Industrial Expo 2021 through both physical and online mode of participation.
Constructors Association of Pakistan (CAP) chairman Kamal Nasir Khan praised the organisers for arranging such an event in the prevailing circumstances, which would create a win-win situation both for Chinese and Pakistani businessmen. He showed keen interest in the construction machinery placed in the exhibition and said the Pakistani construction and real estate industry needs modern machinery, which can help bring down the cost, as well as ensure longer life of buildings.
