Pak-Sino trade volume expected to double in 3-5 yrs: Moin ul Haque

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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