Published On: Tue, Jan 29th, 2013

Pak-China bilateral trade crosses $12 billion mark

The overall bilateral trade of Pakistan and China last year 2012 crossed the figure of $12 billion for the first time, according to the latest data released by the China Customs on Monday.

The major export contributing sectors of Pakistan included textile, leather and textile made-ups, exporters said.

A spokesman of All Pakistan Textile Mills Association said our garments, textile made-up products and yarn were playing the vital role in earning precious foreign exchange for the country.

A spokesman of Pakistan Tanners’ Association said the export of leather garments and leather finished and semi-finished products were fetching millions of dollars foreign exchange for the country.

He said the biggest increase in Pakistan exports to China in 2012 has been in textiles and textile articles besides vegetable products, ores and mineral products and base metals.

According to All Pakistan Marble Mining Processing Industry and Exporters Association spokesperson, the marble products exports were getting encouraging signs in China as Pakistan’s finished and semi-finished marble products besides stone and slabs were also highly appreciated due to their rare quality, colour and self designs.

This puts Pakistan firmly on track to achieve the target of $15 billion in the next two to three years, said Pakistan Ambassador to China Masood Khalid.

He said the leadership of the two countries has paid special attention to augmenting and cementing trade relations between our two countries and bring them at par with strategic partnership and political relations.

The data shows Pakistan-China trade increased by 17.6 percent to a total of $12.4 billion in 2012. In a welcome development, Pakistan’s exports to China increased by 48.2 percent to $3.14 billion. Imports from China increased by 9.9 percent to $9.2 billion. The two-way trade in 2011 was $10.6 billion.

Similarly major imports from China include machinery and mechanical appliances, textiles and textile products, metals, chemical products, mineral ores, plastic scrap and transport equipment.

Khalid praised the role played by the Ministry of Commerce, Trade Development Authority of Pakistan and the Federation of Pakistan Chambers of Commerce and Industry in boosting the trade between the two countries.

Pakistan actively participated in a number of fairs and expos last year such as the Eurasia Expo, Canton Fair and Kunming Fair.

This provided exhibitors from Pakistan to display products and helped boost the exports.

Pakistan traders have been especially focusing on textiles, leather, sports goods, precious stones and handicrafts.

More trade delegations from Pakistan would be encouraged to visit China and participate in the fairs and expos, he added.

In order to exploit it to the full, it is vital to diversify export basket, introduce value addition and provide better quality of goods and services, he added.

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