Karachi (PR): The Prime Minister of Pakistan’s recent visit to China has given a new impetus to Pak-China Economic Cooperation which will usher in a new era of bilateral trade between two brotherly countries. The visit culminated in the signing of MoUs between Islamabad and Beijing which will reinvigorate trade relationship of both countries.
Trade Development Authority of Pakistan (TDAP) envisages outstanding trade opportunities in the offing of this epoch making visit and to capitalize on trade prospects, has established a dedicated “China Focus Cell” at TDAP’s Headquarter, Karachi on the directives of the Secretary TDAP.
Over the years China has become key trading partner of Pakistan, resulting in increase in export to China which reached US$ 2,620 million in the year 2012 from US$ 436 million in the year 2005. This increase is predominantly attributed to Pakistan’s engagement in Free Trade Agreement (FTA) with China that came into effect in July 2007 whose second phase has started this year. Pakistan’s imports from China stood at US$ 6,687 million in the year 2012 indicating hefty trade gap which needs to be tilted in favor of Pakistan through proactive participation of all stakeholders. The Chinese market is attractive for a number of Pakistani products especially Textile and Textile Products, Leather and Leather Garments, Fresh Fruits, Sea Food, Cutlery, Cement, Ores, Marble and Handicrafts.
Development of Kashgar- Gwadar Economic Corridor will be extremely helpful in bridging gap between Gwadar Baltistan & N.W Region of China by bringing tremendous trade opportunities in the region. TDAP’s newly set up China Focus Cell, which is headed by Director General (Marketing Division Asia) and staffed by a dedicated team of professionals, who will highlight trade opportunities for Pakistan in China and act as a catalyst in bringing about desired results in coordination with all relevant quarters.