Pakistan-China trade volume crosses $12b mark for first time

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BEIJING  - The overall bilateral trade of Pakistan and China last year crossed the figure of $12 billion for the first time, according to the latest data released by the China Customs. “This puts us firmly on track to achieve the target of $15 billion in the next two to three years,” said Pakistan Ambassador to China Masood Khalid.

He said the leadership of the two countries has paid special attention to augmenting and cementing trade relations between two countries.

The data shows that Pakistan-China trade increased by 17.6pc to a total of $12.4 billion in 2012. In a welcome development, Pakistan’s exports to China increased by 48.2% to $3.14 billion. Imports from China increased by 9.9% to $9.2 billion. The two way trade in 2011 was $10.6 billion.

The biggest increase in Pakistan exports to China in 2012 has been in textiles and textile articles, vegetable products, ores and mineral products, leather goods and base metals.

Similarly, major imports from China include machinery and mechanical appliances, textiles and textile products, metals, chemical products, mineral ores, plastic scrap and transport equipment.

Ambassador Masood Khalid praised the role played by the Ministry of Commerce, Trade Development Authority of Pakistan and FPCCI in boosting the trade between the two countries.

Pakistan also actively participated in a number of fairs/EXPOs last year such as the Eurasia Expo, Canton Fair and Kunming Fair. This provided exhibitors from Pakistan to display products and helped boost the exports.

Pakistan traders have been especially focusing on textiles, leather, sports goods, precious stones and handicrafts.

The Ambassador said we hope to build on this momentum and further increase our trade in future. More trade delegations from Pakistan would be encouraged to visit China and participate in the fairs and EXPOs, said the Ambassador.

“We have an excellent and broad economic architecture in place between our two countries,” Ambassador Masood Khalid said. In order to exploit it to the full, it is vital to diversify export basket, introduce value addition and provide better quality of goods and services, he added.

 

 

Courtesy: The Nation


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