ISLAMABAD: Pakis-tan’s export of goods and services to China witnessed an increase of 46 per cent during the first seven months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, according to data released by caretaker Federal Minister for Commerce and Industries Gohar Ejaz to the media.
The overall exports to China were recorded at US $1.724 billion during July-January (2023-24) against exports of US $1.180 billion during July-January (2022-23). On the other hand, the imports from China into the country during the months under review were recorded at US $7.709 billion against US $7.658 billion last year, showing a nominal increase of less than one per cent in July-January (2023-24).
Gohar Ejaz had led a high-level delegation to China to discuss economic ties, with a focus on improving the balance of trade between the two nations.
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According to Ejaz, discussions with Chinese counterparts were aimed at improving the Sino-Pak trade relations and identifying avenues for collaborative ventures. Discussions included strategies for accessing new markets in China to promote Pakistani exports and facilitate smoother trade transactions. These engagements resulted in increasing exports to China, he added.
Ejaz-led delegation also held a series of business-to-business (B2B) meetings, providing a platform for Pakistani and Chinese businessmen to engage in discussions to fortify trade relations.
Ejaz underscored the importance of private sector collaboration, particularly Small and Medium Enterprises (SMEs), which could bring prosperity in Pakistan.
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Pak Trade with China (July-Jan) USD Million
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Period Exports Imports
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July-Jan (FY23) 1,180.18 7,658.68
July-Jan (FY24) 1,724.12 7,709.98
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Copyright Business Recorder, 2024
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