Pakistani exports increased 23% to $2.12 billion while imports from China the world’s largest importer grew 22%.
“If we have more exportable surplus, the vast Chinese market will be able to absorb our commodities and services. I have no doubt about that,” said Pakistan’s Ambassador to China Masood Khan, adding that the appetite for Pakistani products was increasing.
Pakistan and China have resolved to increase their trade to $15 billion in the next two to three years.
Pakistan’s exports to China were $1 billion in 2008, however, exports have doubled since then following implementation of free trade agreement between the two countries. In the past three years, the bilateral Free Trade Commission (FTC) met twice to boost Pakistan-China trade.
Pakistani traders have been especially focusing on textiles, leather products, precious stones, and handicrafts.
“Pakistani traders are now looking eastward towards China with greater interest. This trend is growing”, the ambassador said.
In the years to come, entry points of agricultural produce from Pakistan would also be increased, added Khan.
The biggest increase in exports to China during the year was in cotton yarn, home textiles, garments, copper and copper scrap, plastic scrap, leather goods, fish products, medical and surgical instruments, chemical products, and food stuffs.
Published in The Express Tribune, February 1st, 2012.
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Pakistan and China benefits greatly from this regional trade. When Pakistan uses $8 billion in imports, it saves the same amount which it would have to use to buy the same goods from western nations. Pakistan exports are increasing and that is a great sign. We need cheaper imports of raw materials and equipment to make our goods more competitive around the world and China can play a major role in making Pakistan more competitive. This trade does not show the benefits that both countries enjoy due to the use of Pakistani port to export Chinese goods. Pakistan and China have everything to gain from this regional cooperation.
What upper hand has Islamabad achieved in this relationship so far??? NONE ! By allowing free flow of chinese goods in the local market, they have destroyed their own small industrial base, that existed in first place and furthemore are now deeper in debt to them too !!!
@rehmat: you are right that headline is misleading. all they want to point out is that in terms of percentage increase, the exports increased by 23% (pakistan) compared to slightly less 22% (china).
@rehmat: pakistan is doing according to her capability and then china also. no problem. we should continue our trade and friendly relations with china to cement our friendship.
So Pak exports to China = $2 billion (the exports have dubled from $1 billion in 2008) and total trade is $10.6 billion. This means that the imports from China were $8.6 billion (10.6 -2). Doesn't sound like much of an upper hand if for every dollar of export for dollars of imports are happening,