Pakistan looks into new cooperation opportunities

Pakistan looks into new cooperation opportunities

SHANGHAI: Pakistan’s largest effort to date is being showcased at the 6th China International Import Expo (CIIE), which is taking place in Shanghai from November 5 to November 10. Nineteen Pakistani exhibitors are taking part in this event.

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The exhibition, which has been taking place every year since 2018, is a significant venue for advancing global collaboration and trade.

Pakistan’s consul general in Shanghai, Hussain Haider, told the China Economic Net during an interview at a Pakistani pavilion, “Pakistan’s active participation in this event highlights its commitment to strengthening economic ties with China, Pakistan’s second largest export destination, and exploring new avenues of collaboration.”

Focusing on showcasing its wide range of export goods is one of Pakistan’s main selling points for the 6th CIIE.

The nation has demonstrated its rich cultural legacy and economic potential through the production of leather goods, surgical tools, agricultural products, and handicrafts. Both visitors and exhibitors have taken notice of its pavilions, which are furnished with eye-catching displays and cutting-edge merchandise.

Pakistan’s Ministry of Commerce has offered the participating companies its full support, acknowledging the importance of CIIE. To guarantee a positive experience, a number of incentives have been offered, such as subsidies and facilitation services.

The exhibitors expressed great appreciation for the government’s proactive attitude, which further improved Pakistan’s standing as a desirable location for investments.

One of the most significant indicators of the Chinese economy’s opening up is CIIE. Haider found it promising that China’s “dual circulation” development model leaves greater room for imports of superior quality from other countries.

It is encouraging that Pakistan’s exports to China increased by a whopping 100.5% in September over the same month the previous year.

According to the CG, the nation must maintain its exports while utilising the FTA, which provides numerous benefits, and the opening up of the Chinese economy.

Since the year’s beginning, the two nations have inked agreements on the export of animal skins to China, gained access to fresh cherries from Pakistan, and established protocols for the export of boiled beef, dried chilies, and dairy goods to China.

In addition to increasing the export of higher-quality goods like sports equipment and surgical instruments, the Ministry of Commerce is helping more businesses comply with the import criteria of the General Administration of Customs of China for the aforementioned categories.

The CG further emphasised the value of trade shows and fairs as venues for introducing Pakistani goods to the Chinese market. In order to exhibit their goods and make direct connections with prospective Chinese consumers, he encouraged exporters to take part in these kinds of events. By doing so, they will have the chance to discuss possible joint ventures, collaborations, and partnerships.

BRI produces positive outcomes.

More than a hundred wind turbines in Sindh’s Thatta district continuously provide renewable energy to rural homes.

Yang Jianduo, the chief representative of PowerChina in Pakistan, stated, “This is an important part of our wind power project portfolio. With a total installed capacity of 610 megawatts, all 12 wind power projects have been connected to the grid.”

Yang claims that the project portfolio has given locals over 20,000 jobs, and when it is finished, it will generate 2 billion kilowatt-hours of clean energy yearly, which is the same as reducing 2 million tonnes of carbon dioxide emissions, according to Xinhua. These initiatives are part of China’s flagship Belt and Road Initiative (BRI), the 3,000 km China-Pakistan Economic Corridor (CPEC).

CPEC, which was introduced in 2013, is a corridor that emphasises energy, transportation, and industrial cooperation. It connects Kashgar, in northwest China’s Xinjiang Uygur Autonomous Region, with Gwadar Port in Pakistan.

According to Hassan Daud Butt, Senior Adviser at the China Study Centre of the Sustainable Development Policy Institute, a think tank based in Islamabad, CPEC has had positive outcomes.

He stated this while attending the Second Conference of Global Economic Development and Security Forum of Boao Forum for Asia in Changsha, central China’s Hunan province, in late October. By the end of 2022, CPEC had brought a direct investment of $25.4 billion to Pakistan, created 236,000 jobs, and helped add 510 km of motorways and 8,000MW of power supply. ECONOMIC CHINA NET/APP

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