ISLAMABAD: Bilateral trade volume between Pakistan and China has reached to $ 16 billion, showing 12 percent annual increase, according to the latest statistics available here on Thursday.
This is a big jump in the bilateral trade, reflecting the level of socio-economic cooperation increased in the recent two years. Balance of trade position is also getting improved, as Pakistan‘s exports to China have increased to about $4 billion.
The bilateral trade was registered dollar 5.2 billion in 2006 which jumped to dollar 16 billion last year. China has emerged as second largest trading partner of Pakistan in the region. The growth in the economic ties started with signing of free trade agreement between the two countries.
Besides the trade, there was also unprecedented increase in China’s investment in Pakistan in the recent months. There is a manifold increase in number of Chinese companies working in Pakistan. Currently, around 10,000 Chinese workers are engaged in various projects, undertaken in Pakistan.
According to the sources, the two countries maintained momentum of their all-round cooperative partnership that was the result of frequent bilateral exchanges took place at various levels.
It is hoped that the visit of Chinese President Xi Jinping to Pakistan which is expected at an early date will further upgrade and consolidate the relationship, bringing them to a new height. Pak-China relations were an example for the other countries.
It is now stated even at the top level leadership that their friendship is stronger than iron and it’s based on mutual respect and trust.
China-Pakistan economic corridor project (CPECP) will be another milestone in the development of their bilateral relations. The leadership of the two countries attached top priority to its early implementation. The CPECP is not only road project, in fact it covered wide-range of areas including infrastructure and energy development. This project is for the benefit for whole of Pakistan, the sources said. It provides strong connectivity between the two countries, covering all regions of Pakistan.
China’s support is also unprecedented in the development of Gawadar port and Karkarum highway. Pakistan is heavily depending on China to overcome its energy shortage. Currently there are 14 projects which are under-implementation with the support of Chinese government or Chinese companies.