*ISLAMABAD – Pakistan and China have decided to abondon dollar in bilateraltrade.*
*Pakistan and China will start trading in yuan now, instead of dollars. **Yuanis the currency of China.*
“The trade between Pakistan and China has been valued at $15 billion,” saidInformation minister Fawad Chaudhry on Monday. The two countries areworking on improving their economic cooperation, he remarked.
“China has stood by us at all times,” he said. “We built a corridortogether, and now we are opening its doors for agriculture and newindustrial zones.”
Read Top Stories
The currency swap arrangement between the State Bank and People’s Bank ofChina has been extended by three years.
