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Home Business

Pakistan eyes higher exports to China in 2023

by News Publishing
January 17, 2023
in Business, Economy
Reading Time: 2 mins read
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Pakistan eyes higher exports to China in 2023
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“I believe that Pakistani producers would experience a significant reversal when China eases its Covid-19-related limitations. Ghulam Qadir, Commercial Counsellor of the Pakistani Embassy in China, expressed his wish that Pakistani producers, exporters, and manufacturers would visit and explore this fantastic market.

When reflecting on the previous year, Qadir admitted that it had been a challenging one for the world economy. Despite this, significant advancements have been made. “China represents a $2 billion market and has approved the sale of Pakistan’s cherry. From January through September of 2022, our export of sesame seeds to China increased by 50% year over year, reaching $59.09 million.

Pakistan’s rice exports to China crossed the historical figure of one million tonnes. We are also finalizing trade protocols for dairy and meat products. A market that is worth around $20 billion,” he exemplified.

He declared that e-commerce will be the main focus this year. The majority of sales in China are conducted online. Therefore, we are encouraging our Pakistani exporters and manufacturers to visit China and take advantage of the fantastic facilities offered by the Chinese and provincial governments, including warehousing, rent-free offices, and all other related facilities, said the official.

“There will be some extremely special packages and a comprehensive guidebook to assist travel from China to Pakistan,” he said. “2023 commemorates the Pakistan-China Year of Tourism Exchanges.”

In an interview with the CEN, Qadir discussed the Belt and Road Initiative ((BRI), which is celebrating its ten-year anniversary this year. He said that Pakistan was one of the BRI’s original members and a beneficiary.

The World Bank reports that from 2013 when the BRI was proposed and 2021, Pakistan’s exports to China increased by more than 35%, from $2,652 million to $3,589 million.

B2B cooperation will be increased as the BRI’s flagship project, CPEC, enters its second phase in order to transform this massive infrastructure into results that are industrial and export-oriented. He said, “Pakistan can not only become the food basket for China but also deliver the products at competitive pricing,” adding that “with more joint ventures, we can have more technology transfer and IT-related collaboration.”

Tags: Chinahigher exportslatestPakistan
News Publishing

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