Pakistan’s exports of goods and services to China surged by 46% in the first seven months of the current fiscal year (2023-24) compared to the corresponding period last year, as per data released by caretaker Federal Minister for Commerce and Industries, Gohar Ejaz.
During July-January (2023-24), exports to China totaled US $1.724 billion, marking a significant increase from US $1.180 billion in the same period of the previous year. Imports from China to Pakistan during this period were recorded at US $7.709 billion, showing a slight rise of less than one percent compared to the previous year’s figure of US $7.658 billion.
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Ejaz led a high-level delegation to China to discuss economic ties, with a specific focus on enhancing the balance of trade between the two countries. Discussions with Chinese counterparts aimed at bolstering Sino-Pak trade relations and identifying opportunities for collaborative ventures, particularly in accessing new markets in China to boost Pakistani exports and facilitate smoother trade transactions.
Additionally, Ejaz-led delegations organized a series of business-to-business (B2B) meetings, providing a platform for Pakistani and Chinese businessmen to strengthen trade relations.
Emphasizing the significance of private sector collaboration, particularly Small and Medium Enterprises (SMEs), Ejaz highlighted their potential to contribute to Pakistan’s prosperity.