The statistics, released by the General Administration of Customs of China, show that Pakistan’s exports to China crossed $67 million in the first two months of 2022, which recorded a nearly 23% year-on-year increase.
In recent years, with rapid progress on the construction of China-Pakistan Economic Corridor (CPEC) and Special Economic Zones (SEZs), Chinese enterprises, especially private small and medium-sized enterprises, have significantly increased their investment in Pakistan.
The economies of the two countries are increasingly integrated, thus continuously enhancing Pakistan’s export capacity. Under such circumstances, Pakistan’s exports to China have continued to grow substantially.
As a matter of fact, the growth of Pakistan’s exports to China is only a good start. There is still great potential for bilateral trade, especially for Pakistan’s exports to China, said Cheng Xizhong, Visiting Professor at Southwest University of Political Science and Law. China is a country with a population of more than 1.4 billion. It is not only a global exporter, but also a global importer. China and Pakistan are friendly neighbours, connected by rivers and mountains and have convenient transportation channels. Therefore, China is naturally a huge market for Pakistan, he remarked.
“If bilateral trade between China and Pakistan continues to grow at the current rate of 20-30% per year, China will finally become Pakistan’s largest export destination, and Pakistan is likely to become China’s main trading partner in South Asia in the future,” he projected. Over the years, Pakistan has committed to developing an export-oriented economy. To realise the rapid and stable growth of exports to China, both China and Pakistan need to make further efforts.
THE ARTICLE ORIGINALLY APPEARED ON THE CHINA ECONOMIC NET
Published in The Express Tribune, April 13th, 2022.
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