Pak exports to China record 37% growth

BEIJING: Pakistan’s exports to China in the period January to December 2010 increased by nearly $500 million and their overall growth rate was 37.4 percent. According to the figures released by China Customs, the total Pakistani exports to China in 2010 were $1.7 billion compared to $1.2 billion in 2009. In 2010 the total volume of Pakistan-China trade rose by $2 billion to $8.7 billion approximately. Last year, textiles, ores and mineral products, leather, fish and sea food, garments and medical and surgical instruments trended faster growth rates. Last year, Pakistan’s imports from China also increased by $1.4 billion and the total volume imports from China stood at $6.9 billion.

The trade deficit right now for Pakistan is $5.2 billion. The two governments have agreed on a series of measures to reduce the trade deficit. In this regard, China would be sending purchase missions to Pakistan to identify suitable Pakistani products for Chinese markets. Pakistani traders and businessmen will be attending major trade exhibitions in Kunming, Guangzhou, Urumqi, Kashghar, Dalian, and Beijing. Trade/business seminars would also be held to create greater space for Pakistani products in China. 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 – Dailytimes