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The
overall bilateral trade between Pakistan and China in 2012 crossed the figure
of $12 billion for the first time according to the latest data released by
China Customs.
“This
puts us firmly on track to achieve the target of $15 billion in the next two to
three years, said Pakistan Ambassador to China Masood Khalid following the
news.
“The leadership of the two countries has paid
special attention in augmenting and cementing trade relations between our two
countries and bringing them at par with our strategic partnership and political
relations,” the Ambassador added.
The data shows that Pakistan-China trade
increased by 17.6% to a total of $12.4 billion in 2012. In a welcome
development, Pakistan’s exports to China increased by 48.2% to $3.14 billion
while imports from China increased by 9.9% to $9.2 billion. The two way trade
in 2011 was $10.6 billion.
The biggest increase in Pakistan exports to
China in 2012 has been in textiles and textile articles, vegetable products,
ores and mineral products, leather goods and base metals. Similarly, major
imports from China include machinery and mechanical appliances, textiles and
textile products, metals, chemical products, mineral ores, plastic scrap and
transport equipment.
Ambassador Khalid praised the role played by
the Ministry of Commerce, Trade Development Authority of Pakistan and the
Pakistan Federation of Chambers and Commerce in boosting the trade between the
two countries.
He said Pakistan also actively participated in
a number of fairs last year such as the Eurasia Expo, Canton Fair and Kunming
Fair which provided exhibitors from Pakistan to display their products and
helped boost exports. Pakistan traders have been especially focusing on
textiles, leather, sports goods, precious stones and handicrafts, he said.
“We hope to build on this momentum and further
increase our trade in future,” said Ambassador Khalid. More trade delegations
from Pakistan would be encouraged to visit China and participate in the fairs,
he said.
“We
have an excellent and broad economic architecture in place between our two
countries. In order to exploit it fully, it is vital to diversify our export
basket, introduce value addition and provide better quality of goods and
services,” he added.
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