“The furniture industry is one of the pillar industries in Dezhou, Shandong province, China. Pakistan is China’s all-weather strategic partner with a population of more than 200 million. It is highly complementary to China in the furniture industry,” Pakistan’s Embassy in China Commercial Counsellor Badaruz Zaman said on Tuesday.
Speaking at the online Dezhou Furniture Industry Chain Pakistan Market Development Promotion Conference, the commercial counsellor said that the second phase of China-Pakistan Free Trade Agreement (CPFTA) has achieved remarkable results.
“Around 6,000 items will ultimately be zero duty in the coming 10 years, so access to markets for each other is increasing and trade is also having a great run in these last two to three years. In the last quarter, there was an increase of around 70% in exports from Pakistan to China.”
Zaman encouraged all participants to take part and contribute to the increase in bilateral trade and investment in Pakistan. On the occasion, Zhong Ling, Deputy Director of Standing Committee of Dezhou Municipal People’s Congress and Director of Dezhou Furniture Industry Chain, highlighted that Dezhou’s furniture industry was included in 30 provincial-level industrial clusters of over 10 billion yuan in Shandong province.
With a comprehensive range of furniture products, wide market coverage and complete industrial chain, the products are exported to more than 30 countries.
She looks forward to future cooperation between the two sides not only in the furniture industry, but also in chambers of commerce, entities and other aspects, with the support of industrial internet platform, and using the strength of finance and capital, to seek common development and create resplendence.
Chairing the session, Pakistan China Centre Executive Director Wang Zihai shared that after years of development, the Dezhou furniture industry chain has formed an organic industry chain with the integration of production, supply and marketing.
As Pakistan’s investment counsellor, he added, “it is hoped that we can take advantage of the interaction of the furniture industry to further strengthen cooperation in industry exchanges, project investment and people-to-people exchanges, so as to promote the development of two-way economic and trade cooperation.”
The article originally appeared on the China Economic Net
Published in The Express Tribune, January 19th, 2022.
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