In a notable boost for local commerce, approximately 50,000 Chinese investors have expressed strong intentions to invest in Gilgit-Baltistan (GB), with aims to enhance cross-border trade and stimulate regional economic progress. This initiative comes on the heels of several accords between GB traders and authorities at the Pak-China Border Trade Zone in Tashkurgan, as confirmed by officials.
Raja Mir Nawaz Mir, President of the Ghizer Chamber of Commerce and Industry, provided insights during an interview with Gwadar Pro. He reported that earlier this month, a delegation of traders from ten districts in Gilgit-Baltistan completed a six-day visit to the Tashkurgan Border Trade Zone. Shortly after, a group of Chinese investors, headed by Border Trade Zone Chairman Chen Hao, met with the Hunza Chamber of Commerce and Industry, leading to the signing of multiple Memorandums of Understanding (MoUs).
A key result of these talks was an agreement aimed at fostering Chinese investment in GB. Raja pointed out that Pakistani traders will pinpoint viable projects and supply the required land and infrastructure, while the Tashkurgan Border Trade Zone will link with interested Chinese stakeholders. He emphasized that the Trade Zone has a roster of 50,000 Chinese investors eager to invest in Gilgit-Baltistan.
This initiative is in harmony with a broader Chinese strategy to strengthen cross-border communities along the China-Pakistan Economic Corridor (CPEC). Raja further explained that Pakistani investors must secure guarantees from established chambers of commerce in GB, while the Trade Zone will offer assurances for Chinese investors. Expected joint ventures are likely to enable shareholding by GB chambers to ensure local engagement.
Alongside the investment framework, traders from GB have been designated a dedicated area in the Tashkurgan Border Trade Zone, which includes a corporate office, a display center, and residential apartments. Raja suggested that this will not only augment trade with China but also create new market opportunities across 18 additional regional countries. Additionally, approval has been granted for an agricultural technology park spanning 300 kanals of land as part of the initiative.
Moreover, traders from Ghizer signed two MoUs during their visit—one focused on establishing an oxygen gas plant and another on creating a facility for manufacturing building materials. Raja conveyed his optimism that this surge of Chinese investment will usher in a new era of economic development for Gilgit-Baltistan.
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