Copper exports to China cross $1b

Shipments likely to rise further owing to production of refined products

BEIJING:

Pakistan’s exports of copper and articles made from the metal to China have increased in recent years and in the first 11 months of 2023 rose 9%, crossing the $1 billion mark, according to officials.

Pakistan Embassy Commercial Counsellor in Beijing Ghulam Qadir told the China Economic Net (CEN) that Pakistan’s government was keen to boost copper and associated product exports to China.

He pointed out that exports of copper had increased and anticipated that the value of shipments would rise further owing to the production and demand for refined copper products.

“Pakistan has been actively seeking foreign investment, particularly from big Chinese companies, to make value addition and produce more valuable products for the global market,” the counsellor said.

Read Exports rise to 18-month high

Investment from Chinese companies in Pakistan will not only provide a boost to the economy but also open doors for advanced technologies and expertise. “This will enable Pakistan to enhance its manufacturing capabilities and produce high-quality, value-added products that can meet international standards,” he added.

Qadir said that the Metallurgical Corporation of China (MCC), one of the major players in the Chinese copper industry, was active in Pakistan and was crucial for the Saindak copper mining project, which was started in 1995.

Pakistani copper exporter Awais Mir, who is the Chairman of DEA group, told CEN that it was due to increased investment by Chinese companies with local Pakistani firms and higher demand for copper products in China after Covid-19.

“This trend is likely to continue as both countries are expected to benefit from deepening economic cooperation,” he said.

Published in The Express Tribune, January 5^th, 2024.

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