BEIJING – From January to December 2010, Pakistan’s exports to China increased by nearly $500 million with an overall growth rate of 37.4 percent. According to the figures released by China Customs, total Pakistani exports to China last year were $1.7 billion compared to $1.2 billion in 2009.
Since 2006, Pakistani exports to China have steadily grown. The total volume of Pakistan-China trade rose by $2.0 billion to $8.7 billion approximately. Last year, textiles, ores and mineral products, leather, chemicals, plastics, sporting goods, iron, steel and surgical instruments were part of the upward trend. In 2010, Pakistan’s imports from China also increased by $1.4 billion and the total volume of imports from China stood at $6.9 billion. The trade deficit right now for Pakistan is $5.2 billion.
“The two governments have agreed to introduce a series of measures to reduce the trade deficit” said Ambassador Masood Khan on Friday adding that in this regard, China will be sending purchase missions to Pakistan to identify suitable Pakistani products for Chinese markets. He pointed out that Pakistani traders and businessmen will be attending major trade exhibitions in Kunming, Guangzhou, Xi’an, Urumqi, Kashghar, Dalian, and Beijing. The trade seminars would also be held to create inroads for Pakistani products in China.
Meanwhile, Pakistan has requested assistance from China in vocational and technical training in the areas of value added textiles, gems and jewelry, ceramics, surgical instruments, leather and light engineering. At the last meeting of the Free Trade Commission (FTC), China agreed to consider the proposal and invite Pakistan to identify specific training needs in these areas.
Pakistan has also requested China to give unilateral tariff concessions to 268 Pakistani product lines. Pakistan is the second largest trading partner of China in South Asia.
