Pak-China ties: Islamabad gets a slight upper hand in trade
Medical and chemical products among the highest gainers.
BEIJING:
Pakistan-China bilateral trade registered an overall growth of 22% by reaching the mark of $10.6 billion in 2011 with Islamabad achieving a slight upper hand over the world’s largest exporter.
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.
Pakistan-China bilateral trade registered an overall growth of 22% by reaching the mark of $10.6 billion in 2011 with Islamabad achieving a slight upper hand over the world’s largest exporter.
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.