Chinese Premier Li Kiqiang has said that China takes its trade imbalance with Pakistan seriously and is taking measures to address the issue as there is great potential to be tapped in their economic cooperation.
He said Pakistan’s export to China last year increased by nearly 50 percent. China is Pakistan’s second largest trading partner and fourth largest export market. Steady progress has been made in their cooperation in energy, infrastructure, telecommunications and financial sectors.
In a written interview to Pakistani media on the eve of his state visit to Pakistan, the Chinese premier termed the mutual political and economic relations like the two wheels of a bicycle, which are mutually reinforcing.
“The political bond between China and Pakistan is unbreakable and our business ties as a whole have maintained growth momentum. Pakistan is the first South Asian country to sign a free trade agreement and currency swap agreement with China, and it is the largest destination of Chinese investment in South Asia,” he said.
“China will step up consultation with Pakistan on second phase tax reduction negotiations under the framework of China-Pakistan Free Trade Area,” he said, adding that he had given instruction that a Chinese trade and investment promotion delegation be sent to Pakistan to pursue various cooperation projects.
About his recent visit, Li Kiqiang said that he would also talk to Pakistani leaders about the formulation of a long-term plan for boosting bilateral business cooperation.
“Our two sides should focus on carrying out priority projects in connectivity, energy development and power generation and promoting the building of a China-Pakistan economic corridor,” he added.
A whole article with out actually saying what the deficit is!
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