KARACHI: Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum & All Karachi Industrial Alliance, Chairman National Business Group Pakistan, Chairman Policy Advisory Board of FPCCI, has said that Pakistan-China an "all-weather strategic cooperative partnership," identifies critical opportunities for Pakistan to address its persistent trade deficit with China and move towards a more balanced, mutually beneficial relationship.
He said a structural trade imbalance has persisted and widened despite the China-Pakistan Free Trade Agreement (CPFTA), as Pakistan primarily exports low-value raw materials while importing high-value machinery and consumer goods.
Hussain emphasised that this issue requires a fundamental strategic shift. "Our reliance on low-value exports is a key weakness," he stated.
"The second phase of the China-Pakistan Economic Corridor (CPEC), which focuses on industrial and technological cooperation, is the perfect vehicle to modernise our industrial base and diversify our export portfolio."
Hussain also highlighted a unique and time-sensitive opportunity presented by the ongoing US-China trade conflict. He indicated that this conflict has disrupted global supply chains, creating a rare and valuable opening for Pakistan to attract Chinese investment and gain market share, particularly in the textile and apparel sectors, due to its favourable tariff position in the US market. "This is our moment to act decisively."
He said we must seize this opportunity to attract foreign investment, move up the value chain, and transition from being a passive recipient of investment to an active and equal partner with our 'Iron Brother' China".
He underscored that while the security of Chinese personnel remains paramount, addressing the trade imbalance through strategic economic planning is essential for ensuring the long-term prosperity of the partnership.
Copyright Business Recorder, 2025
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