How Coronavirus is effecting the Pakistan economy and Pak China bilateral trade?

Shares
How Coronavirus is effecting the Pakistan economy and Pak China bilateral trade?

ISLAMABAD: As coronavirus outbreak has badly affected economic activities in China, its impact was also being felt by Pakistan, as the latter imports a bulk of its products from the former.

This was stated by Adviser to Prime Minister on Commerce and Industries Abdul Razak Dawood while talking to a group of journalists in Islamabad on Monday.

“Since the bilateral is largely in favour of China, imports from the neighboring country have largely been affected.”

He said the ministry was monitoring the possible effects of coronavirus on domestic production and exports.

Talking about the decline in exports in the month of January 2020, the adviser claimed that the global price index and recession were the reasons behind the decrease in exports. He, however, claimed that exports would see an increasing trend in the coming months.

Justifying the reduction in exports, he also said that the global impact was also visible in exports of regional countries like India and Bangladesh.

Talking about his government’s focus on the emerging market of Africa, the adviser said that the ministry had last year prepared a ‘Look Africa Policy’ to exploit the African market. “We recently conducted a successful conference in Nairobi and more of the same will be arranged in the near future to stay increase our engagement with the African countries,” he added.

More from this category