From Our
Correspondent
BEIJING: Pakistani Ambassador to China Moin-ul-Haque briefed the leadership of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Pakistan’s economic diplomacy in China, which had achieved tangible results despite the unprecedented COVID-19 pandemic.
He said that the positive outcomes included the 18 percent year-over-year increase in Pakistan’s exports to China in 2020; both sides agreed to mutually find new ways and avenues to increase Pakistan’s trade with China. Ambassador Haque stated that China is the largest investment country for Pakistan with a large FDI value each year. While many investors have intention on Pakistani market like medical production, oil refinery, cement and so on. And many sectors have advantages for potential profit margin. He said that growth rate of bilateral trade between the two countries’ major products, textiles, seafood, and agriculture products, helped in economic recovery and enhanced Pakistan’s export to China. He emphasized FPCCI’s vital role as a platform for Pakistan’s vibrant private sector to contribute to policymaking and strengthen overseas economic cooperation.
According to China Economic Net (CEN), FPCCI and Pakistan-China Business Council (PCBC) were informed that new items under quarantine procedures like FMD Zone, cream and so on are waiting for signing protocol like onion and cherry. Members of FPCCI showed gladness that around ten new rice companies were added to the registration list.
FPCCI was further informed that from January to December 2020, China’s imports from Pakistan counted $2.12 billion irrespective of the COVID-19 pandemic that impacted fiscal 2020, while this year, China’s export to Pakistan has decreased 4.95 percent amounting to $15.36 billion as compared to the previous year which was $ 16.17 billion.
