Pakistani exports to China to be doubled in next 3-5 years

exports to China

Pakistan’s exports to China will double over the next three to five years because of the growing attention of local traders and companies in trading with China, Ambassador to China Moinul Haque expressed confidence. 

While visiting the 4th China International Import Expo (CIIE) being held in Shanghai, he said, “China-Pakistan export and import trade is very promising. I can foresee that in the next three to five years, Pakistan’s exports to China, such a huge market, will be doubled. And there is an increasing interest of Pakistani traders and companies to trade with China.” 

According to China Economic Net, the Nov 5-10 4th CIIE has appealed to almost 3,000 businesses from 127 countries and regions. 

Read more: Pakistan monthly exports to China witness 30% increase in November

During his stay in the Pakistani pavilion at the expo, Ambassador Haque said: “CIIE is a flagship expo of China, and I must give full credit to the Chinese government, especially President Xi Jinping. It was his idea to launch this expo. Pakistan has been a very active partner since the first CIIE. Our prime minister was a keynote speaker at the first CIIE. And since then, we have had our speakers and exhibitors regularly.” 

Pakistani exports to China up 75% in first three quarters

Ambassador Haque further informed China is currently Pakistan’s largest interchange partner since the promotion of the second phase of the Free Trade Agreement in January last year. 

“Our exports are growing very fast this year. The overall bilateral trade has increased by more than 60 percent. And Pakistan’s export to China has increased by 75 percent which means that by the end of this year, we are going to have an unprecedented new record of bilateral trade volume,” he added. 

The China–Pakistan Free Trade Agreement (CPFTA) is a free trade agreement (FTA) amid the Islamic Republic of Pakistan and the People’s Republic of China with a purpose to pursue to upsurge trade and support the cooperation between the two countries. 

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