Potential of Pak-China trade not being exploited
Talking to APP here on Thursday, PCCA President Zahid Qamar said that trade between the two countries was valued at around $7 billion but was heavily tilted in China’s favour since the major portion of this figure could be attributed to imports from China.
“We have scope to tap the potential by exporting cotton, cotton fabric, marble, marble craft, seafood, leather, leather goods, leather garments and rice,” he added.
Qamar stressed that organisations like the Trade Development Authority of Pakistan (TDAP) need to consult the people directly involved in the trade of various goods with China. “Even the Karachi Chamber of Commerce and Industry (KCCI) has to do research and send across trade delegations.”
The association’s president said that although around 4,000 local traders visit China every month and return back with contracts worth millions of dollars for the import of goods not available in the domestic market, they have failed to take advantage of the Free Trade Agreement (FTA) signed by the two countries in 2006. “The TDAP needs to create awareness of the business opportunities in China.”
Commenting on the business community, he said they too chose to confine themselves to established export destinations, mainly the United States and Western Europe, and did not focus on diversifying the export base.
It is interesting to note that last week TDAP CEO Tariq Puri had commented that trade between the countries could touch the $15 billion per annum mark by 2015.
Published in The Express Tribune, December 24th, 2010.
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