Country seeks bigger slice of Chinese market
“Pakistan is focused on increasing exports to China, reducing the trade imbalance which is heavily in favour of Beijing,” he said while talking to The Express Tribune on Saturday.
Puri said that Pakistan, in a bid to improve its exports, will take part in 15 exhibitions in China and send eight trade delegations in 2011, adding TDAP will also organise various seminars to inform exporters about business opportunities in China.
He also said that TDAP will make documentaries on top Chinese sectors to inform exporters about trade avenues. The authority has finalised a roadmap for next year, and core sectors have already been identified.
TDAP has also identified sectors, particularly natural resources, for increasing collaboration with Chinese companies, he added. Pakistan meets most of its oil needs from imports which cost around $10-12 billion a year. Besides, the country is facing gas shortages, particularly in Punjab, which has caused a halt to production at almost half of the industries.
Explaining his point, Puri said that several members in the Chinese trade delegation currently visiting Pakistan for three days were businessmen who are from the natural resources sector. “So, to make the most of this opportunity, TDAP will focus on development of oil, gas and other natural resources in Pakistan.” The other noticeable sector is the engineering sector, he added.
The Chinese prime minister on Saturday said that China is cognisant of Pakistan’s reservations about low exports, a cause of heavy trade imbalance. He said that China will send more trade delegations to help identify the areas where Pakistan can increase its exports to China.
Web portal launched
The Trade Development Authority of Pakistan (TDAP) on Saturday launched its web portal to link businessmen and traders of Pakistan and China by providing information on various trade-related issues.
Talking to reporters on the sidelines of the Pakistan-China Business Cooperation Summit 2010, TDAP Chief Executive Tariq Puri said: “The web portal would help businessmen learn about business and investment opportunities in both countries and launch ventures accordingly.”
Referring to trade relations, he said that bilateral trade would enhance up to $10 billion in the next two years and $15 billion by 2015. He said that there was great scope for enhancing trade and the summit would definitely pave the way for increasing it.
He said that about 150 companies of different sectors of the two countries have been engaged in consultations in the forum, exploring opportunities and possibilities for future investments and exports.
He said that Pakistani companies would be involved in marketing their products in various cities of China to enhance exports, adding Pakistan and China were enjoying friendly political relations that have led to developing trade and economic ties.
The Pak-China Business Cooperation Summit has been organised by the Board of Investment in collaboration with the Federation of Pakistan Chambers of Commerce and Industry, Trade Development Authority of Pakistan and China Council for Promotion of International Trade.
The Board of Investment expects that $25 billion investment would be attracted by the summit and has expressed the hope that the conference would have long-term positive effects on the economic growth of both the countries.
Almost 260 Chinese delegates and 150 representatives of Pakistan from different investment sectors participated in the summit during which business-to-business meetings were also organised.
With additional input from APP
Published in The Express Tribune, December 19th, 2010.
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