Pak-Sino trade volume expected to double in 3-5 yrs: Envoy

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Pakistan, China trade volume is expected to reach in double figures in next 3-5 years, said Pakistan Ambassador Moin ul Haque.

“Last year Pak-Sino trade volume hit a record level. We expect that in the next 3 to 5 years, we can double this level,” he said in an interview with China Economic Net (CEN).

The recent 6-day long China International Fair for Trade in Services (CIFTIS) was successfully held in Beijing. It witnessed an active engagement of Pakistani officials, experts, merchants and so on.

“Every year CIFTIS is growing and becoming bigger and bigger. I think this is China’s strength – innovations, new technologies, new approaches, new development…” Moin ul Haque expressed his excitement.

Ghulam Qadir, Commercial Counsellor of the Embassy of Pakistan in China, told the reporter, “This fair is a wonderful opportunity for Pakistan and other countries to represent themselves and showcase their unique products.

In terms of services, this is one of the areas where we are focusing more and where we are trying to carve out a win-win solution for enterprises of both countries.”

“China is already Pakistan’s largest trading partner and last year our trade volume hit a record level. We expect that in the next 3 to 5 years, we can double this level,” Moin ul Haque told CEN, adding that both countries are working together to expand bilateral trade, especially to boost Pakistan’s exports to China.

The ambassador pinpointed, “Our cooperation in trade in services is currently a weak area, so using this platform of CIFTIS, we hope to improve our bilateral trade in trade, like logistics, financial services, e-commerce.”

“Surely we are looking forward to our participation not only in CIFTIS, but also in other trade fairs, like China International Import Expo to be held in November,” he further said.

“We welcome Chinese firms to invest in Pakistan,” Ghulam Qadir said, adding that “There is so much to be done, and we are looking forward to it.”

Themed “cooperate for better development, innovate for a greener future,” the 2022 CIFTIS is co-hosted by Ministry of Commerce, China and the Beijing municipal government.

It is a crucial platform for China to expand opening-up, deepen cooperation and pioneer innovation, which has made a positive contribution to promoting the development of the global services industry and services trade, the CEN’s report added.

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