CIIE connecting Pak businesses to Chinese markets
By Ali Jannat;
China’s holding of the 4th International Import Expo with the world’s largest import theme is a commendable event. Promoting the restoration of China and the formation of a better economic system and the interconnection of the rest of the world, the easy export of products is a laudable process and it can be expected that China will contribute more and more to the revival of the multilateral trading system.
In CIIE the participation of more than 300 businesses, corporates and representatives from more than 127 countries and regions has further strengthened Chinese President Xi Jinping’s vision and commitment to not only build a better economic system, but also striving for a lasting economic link between the rest of the world. China, as a large country in terms of population, has a wide heart and should play a role as a big country in the region. Just like a big brother in a family.
China-Pakistan friendship and relations are getting stronger and stronger with each passing day. In this context, the holding of China International Expo led to further development of this relationship between the two countries. Pakistani products have been well received in this export themed event. Pakistani handicrafts, jewelry and agricultural commodities and other valuable products have been able to attract the attention of the people and this was also openly stated by the State Bank of Pakistan. According to the latest data from the State Bank of Pakistan, Pakistan’s exports to China have increased by more than 60% over the previous year and if the situation remains normal, even better results are expected next year. China is the second largest importer of Pakistani products. The main reason for this development is the role of China Pakistan economic corridor (CPEC), which has made it easier for Pakistani products to enter in the Chinese market and to brand Pakistan. The success of CPEC is considered a guarantee for the recovery of Pakistan’s economy. The CPEC Belt and Road initiative has played and will continue to play a key role in improving Pakistan’s economy. The last few years have seen a marked increase in trade volume between Pakistan and China. China buys a large number of items including textiles, leather, IT, food, rice, essential vegetables from Pakistan. In this context, the organization of this event is very encouraging for the Pakistani institutions and business community. Prime Minister of Pakistan Imran Khan attended the first China International Import Expo which was held in 2018 and expressed his views that indeed, it is a great platform to increase exports and Pakistan by all means will fully participate in it. So in this context, despite the Corona sanctions, tremendous results are being seen.
Moinul Haq, Pakistan’s ambassador to China, also expressed optimism in this regard. In a recent interview with Global Times, he said that trade between China and Pakistan reached 12.56 billion in the first quarter of year 2021. Pakistan’s export rate has increased to 75% and Pakistan will be able to achieve record figures by the end of this year. The more it relies on its exports, the more it will pave the way for growth for the country’s economy.
There is an example that not only has China strengthened its economy through development, lifted its people out of poverty, but also provided an opportunity for developing countries to take full advantage of the partnership through trade. And it is considered an important direction in multilateral trade cooperation and the recovery of the global economy.
In the global prospect, China’s initiative has been widely welcomed, benefiting other countries around the world, especially those whose economies have been crippled by the Corona. This is a reflection of China’s strong commitment to promoting international trade, one of the largest activities in the world. Maintaining a fairly competitive market environment, China International Import Expo plays an important role in promoting a more sustainable and comprehensive recovery of the global economy.
The author writes at Daily Parliament times, Anchorperson at PTV-NEWS and Broadcast Journalist at Radio Pakistan.
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