Pakistan imports goods worth $20 billion from China
A 20-member delegation from diverse sectors of Pakistan’s export industry is set to depart for China with the goal of increasing the country’s exports to $100 billion and addressing the trade deficit with its neighboring ally. Dr. Gohar Ejaz, the Federal Minister for Commerce & Industries, shared this development through a video message on the social media platform X. Highlighting the substantial trade volume between Pakistan and China, Dr. Ejaz pointed out that while Pakistan imports goods worth $20 billion from China, its exports to the neighboring country amount to only $2 billion.
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Over the past three months, concerted efforts have been made to elevate Pakistan’s exports from the current $30 billion to $100 billion, with a particular focus on the vast potential in the Chinese market. Dr. Ejaz emphasized the need to reduce the trade deficit and announced the selection of a 20-member delegation heading to China to explore new markets. Expressing confidence in China as a crucial potential partner, he stated that addressing the trade deficit with China could help alleviate Pakistan’s economic challenges, including the current account deficit.
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Dr. Ejaz conveyed his appreciation to the Chinese Ambassador in Pakistan, Jiang Zaidong, the Pakistan Ambassador in China, Khalil Hashmi, and China’s Ministry of Commerce for their support in facilitating trade between the two nations. The Export Advisory Council (EAC) for textile and non-textile sectors, chaired by the Caretaker Minister for Commerce, held its inaugural meeting, outlining the roadmap for Pakistan’s ambitious $100 billion export vision. The council also deliberated on proposals to increase domestic exports to $50 billion within the next five years.
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