‘Pakistan’s export growth indicates its efficient economic policy’

Pakistan’s export policy

Chinese professor, Cheng Xizhong, says Pakistan’s substantial export growth is a vindication of the govt’s policy to keep economy running during pandemic.

Cheng Xizhong, visiting professor at Southwest University of Political Science and Law, in his one of the articles, praised the Pakistani government’s policies saying that Pakistan export which grew for the fourth consecutive month in December 2020 to US$2.357 billion, up 18 percent from $1.993 billion in the corresponding month of the previous year, is a vindication of the government’s policy to keep the wheels of economy running during the Covid-19 pandemic.

After this news of the appreciation for the country, Prime Minister Imran Khan took to twitter to extend congratulations to exporters for achieving record exports in the month of December 2020.

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

“Congratulations to all the exporters on achieving record exports in December 2020 with a growth of 18% over the previous year. Well done and keep up this trend. A major pillar of our government’s economic policy is export enhancement and we will provide full support to promote export culture.”

According to Cheng Xizhong, Pakistan’s substantial export growth has 3 major reasons behind it: First, this shows the resilience of Pakistani economy and it is a vindication of the government’s policy to keep the wheels of economy running during the Covid-19 pandemic.

Moreover, the policies of the federal government of Pakistan are very wise, focusing on the prevention and control of the pandemic on the one hand and the economic recovery on the other.

Pakistan, effectively controlled the novel coronavirus pneumonia and in this regard, Pakistan has done the best in South Asia, the current situation is proof of the efficiency of the government.

At the same time, from the very beginning to now, the Imran Khan administration promulgated a series of policies and measures and has strongly stressed the importance of economic development, improvement of people’s livelihood, an increase of exports, and maintenance of a good state of finance.

While sharing the second reason, Mr. Professor stressed that the second phase of the China-Pakistan Free Trade Agreement (FTA) came into effect on December 1, 2019. The conclusion of the second phase of FTA between China and Pakistan is an important measure to further enrich the all-weather strategic cooperative partnership and enhance the level of trade liberalization and facilitation between the two countries.

He added that since then, Pakistan’s exports to China have increased rapidly. For example, Pakistan’s rice exports to China have increased from 1.3 percent in the past to 24.4 percent in 2020.

The Chinese government and people have a strong inclination for expanding trade between China and Pakistan. Some of Pakistan’s special vegetables and fruits are being favored by Chinese consumers. At the same time, Pakistan is a very reliable supply chain for Chinese halal food.

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