BEIJING: In order to reduce the Sino-Pak trade deficit and increase trade facilitation, the Development Research Center of China’s State Administration of Market Regulation recently launched a study on China-Pakistan quality infrastructure establishment and connectivity.
According to China Customs data, the trade deficit between China and Pakistan from January to December 2021 was $20.66 billion. Currently, a lack of connectivity between the two countries’ National Quality Infrastructure (NQI) has inevitably created trade barriers, necessitating greater attention from both sides, according to China Economic Net (CEN) on Friday.
The research, which is being conducted by the Taizhou Institute of Standardization and other Chinese universities, aims to investigate the trade deficit between China and Pakistan by identifying the difficulties and obstacles to trade facilitation, as well as to promote Sino-Pak industrial cooperation in agriculture, machinery, and other fields through quality infrastructure connectivity.
In recent years, Taizhou and Pakistan have increased their economic cooperation, which provides experience and a framework for further connecting the two countries’ national quality infrastructure.
It has been learned that in the agricultural sector, the research team will draught a China-Pakistan Agricultural NQI Cooperation Agreement based on Jiangsu Hongqi Seed Industry Co., Ltd’s overseas rice seed business experience. In addition, the team will complete a NQI mutual recognition standard for electronics.
