After textiles, Pakistan to export Engineering and Chemical goods to China
During the last fiscal year 2018-2019 Pakistan’s exports to China have increased to $106 million, says SBP report.
- After leather and textiles, the Chinese government is providing new export opportunities to Pakistan.
- Under this agreement, Pakistan will export engineering and chemical goods to China worth $2 billion every year.
Pakistan is hoping to strengthen its cooperation with China, in terms of trade particularly, said advisor to the PM on Commerce, Abdul Razak Dawood.
In an interview with the China Economic Net, Sheikh highlighted how the Chinese government is providing export opportunities to Pakistan, that extend beyond leather, agriculture, and textile.
Chemical & Engineering goods:
In the latest progress, Pakistan will now export chemical and engineering goods to China.
“We see it as the perfect opportunity to enhance collaboration with Chinese companies,” he told the mentioned media source.
“The second phase of the Pakistan-China Free Trade Agreement (FTA) will become operational from the first of December.”
Advisor further added that he is very hopeful about the swift implementation of the agreement.
Under this agreement, Pakistan will export goods worth $2 billion to China every year. During the fiscal year 2018-2019, Pakistan’s exports to China have increased to $106 million, according to the SBP report.
Reports say that some Chinese companies have started to show their interest in gold and copper mining in areas like Reko Diq.
“This is a new area on which Pakistan will concentrate. We have a massive opportunity. Our trade with China is very low and we certainly will be concentrating on this area,” Dawood added.
“We are not very good at international marketing and this stems from the fact that in the domestic market, demand has always been greater than supply hence the emphasis on marketing remains low,” he pointed out.
Dawood further said that President Xi is a great leader and visionary man.
“He has come forward to tell the world that China wants to import from the world. It is very enlightening for all of us and we feel that it is a very good initiative,” Dawood.
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