BEIJING - Chine Ambassador to Pakistan, Yao Jing has said that Pakistan can do much more to balance the bilateral trade between the two friendly countries since the balance of trade is in favour of the Chinese. He further said that China needs to import more from Pakistan to settle the prevailing imbalance in trade.
While speaking to the media, he remarked that the trade imbalance is a cause for concern and that the Chinese are all-out to improve this situation.
Yao Jing said China welcomes Pakistan to participate in this Import Expo in Shanghai from November 5-10, 2018 as the ‘Guest of Honor’ country. China cherished the special friendship with Pakistan and it is line with that spirit.
Pakistani businessmen may be allotted stalls at the expo free of cost. China encourages its private sector to have more and more interaction with the Pakistani side for bringing desired results in the bilateral trade.
The ambassador was confident that the business opportunities coming out from China-Pakistan Economic Corridor (CPEC) will considerably improve the trade volume between the two countries.
Promoting industrial parks in Pakistan and establishing special economic zones under CPEC will be a big step forward to this direction, he added.
Expansion of China Pakistan Free Trade Agreement (CPFTA) is already in process, Inspection and Quarantine requirements and other issues are going to be settled.
China also gives full consideration to the concerns of Pakistan in talks on CPFTA, creates all possible conditions, so as to resolve concerns as soon as possible.
Meanwhile, more than 1,700 companies from across the world have applied to attend the Shanghai’s expo. Over 900 applicants have signed contracts for the expo. Among them, 34 per cent of enterprises are from the Belt and Road countries and regions.
The import expo “shows China’s determination of opening-up and is set to be a launching place for the newest products,” said the Deputy Director of the China International Import Expo Bureau, Sun Chenghai.
The expo will be held in Shanghai from November 5 to 10. It will cover about 157,000 square meters.
With the expo 200 days away, Sun said the bureau is creating a more welcoming environment for participants. With the help of Big Data and cloud services, those attending will be able to take part in more convenient ways.
The expo “shows that China is safeguarding free trade not only through words but through deeds,” said, the Director of the Council for the Promotion of International Trade Shanghai Yang Jianrong.
“Shanghai has taken actions to help enterprises, especially small and medium-sized businesses from developing countries, to have an easier access to Chinese market,” Yang added.