The business leaders of South Asia at a seminar demanded greater inflow of Chinese investment in the region.
They also demanded creation of development fund to inject finances in mutually interested sectors that will have a positive impact on economic cooperation between the two biggest civilizations.
This idea was presented during the 3rd South Asia-Sichuan Business Promotion seminar (SASBPS) which was inaugurated by Mr. Qu Mu Shi Ha, Vice Governor of Sichuan Province in Chendgu city of China.
At the occasion, Tariq Sayeed asked the Chinese entrepreneurs to get maximum benefit through investment which will maximize economic cooperation between China and South Asia.He said that all the eight countries in region had pursued liberal investment policies offering 100 per cent equity and tax holidays for at least five years.
Iftikhar Ali Malik, VP Saarc Chamber of Commerce said that Pakistan offers high margin of profits, reduced duty on import of raw materials and preferred treatment for investment in Export Processing Zones.
President of FPCCI Haji Fazal Kadir Khan Sherani invited Chinese investment in power sector, exploration of coal and other mineral resources, nuclear power stations, hydroelectric power, ship-building, high-tech machinery, infrastructure and construction through joint ventures.
Former president SAARC CCI Annisul Huq proposed for creation of South Asian Development Fund by China, opening up Chinese banks in all the South Asian countries and deepen cooperation in energy and food security.
Kosala Wikramanayake, VP, SAARC CCI from Sri Lanka, Suraj Vaidya, President FNCCI, Nepal, M. A. Momin, Director, FBCCI, Bangladesh, Haroon Rashid, VP FPCCI and others also spoke on the occasion. Seminar was followed by meetings and signing MoUs amongst South Asian and Chinese businessmen.