ISLAMABAD – With the construction of the China-Pakistan Economic Corridor(CPEC) and Pakistan’s domestic economic growth, the trade volume surgedthis year at a major border port between China and Pakistan.
Cargo import and export reached 66,600 tonnes in the first 11 months atKhunjerab Pass in northwest China’s Xinjiang Uygur Autonomous Region, up46.8 percent from the same period last year. Trade volume increased by 1.4times to 5.99 billion yuan (around 856.3 million U.S. dollars) during thesame period, according to a report of China News Network on Sunday.
About 5,000 meters above sea level, Khunjerab Pass is a major trade portbetween China and Pakistan, and an important gateway to South Asia andEurope.
China mainly imports textiles, agricultural products and daily commoditiesthere, and exports plants and herbs.
The authorities at Khunjerab Pass said they will continue to increasecustoms clearance efficiency to facilitate trade in the future.
Urumqi customs statistics show that from January to November 2019, thetotal value of imports and exports from Xinjiang ports to Pakistan was 5.5billion yuan, an increase of 1.2 times compared with the same period lastyear. Among them, exports to Pakistan were 5.49 billion yuan, an increaseof 1.3 times, mainly in textiles, apparel, and mechanical and electricalproducts.
With the CPEC Project, China and Pakistan can achieve comprehensiveconnectivity, diversification and mutual benefit. It is not only a modelproject and flagship project of China’s “Belt and Road” initiative, butalso provides an important opportunity for the development of Pakistan.
In recent years, the flagship project of Belt and Road Initiative hasdriven a large number of major infrastructure projects such as energy,electricity, roads, and railways, injecting a source of power into thedevelopment of China-Pakistan trade.
Xinjiang, as the core area of “the Silk Road Economic Belt”, is promotingthe interconnectedness between China and Pakistan and driving the economicand geographical advantages of the regions along the route.
According to Urumqi Customs, since February this year, the value of importsand exports from Xinjiang ports to Pakistan has maintained a year-on-yeargrowth. Among them, in November alone, the value of imports and exportsfrom Xinjiang ports to Pakistan reached 1.82 billion yuan, a year-on-yearincrease of 74% and a month-on-month increase of 63.8%.
Xinjiang port to Pakistan is dominated by small amount trade, and it hasgrown significantly, accounting for 70.5% of the total value of Xinjiangport to Pakistan trade.
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Import and export through general trade was 1.56 billion yuan, an increaseof 17.9%, accounting for 28.4%. Private enterprises are the main force forimport and export. From January to November, the import and export volumethrough the Xinjiang port to Pakistan was 4.31 billion yuan, doubled,accounting for 78.4% of the total value of Xinjiang port to Pakistan tradeduring the same period.
It is understood that the main trade port between Xinjiang and Pakistan isHongqilafu Port in Ta County, Kashgar Region.
This port is the only land entry and exit passage between China andPakistan, and also an important gateway to the South Asian subcontinent andeven Europe.
From January to November, the import and export of Hongqilafu port toPakistan was 5.2 billion yuan, an increase of 1.3 times, accounting for94.5% of the total value of Xinjiang port to Pakistan trade during the sameperiod. Large-scale engineering construction has driven exports ofmachinery and equipment, road and bridge construction equipment,
Pakistan’s agricultural recovery, the healthy development of the serviceindustry, and large-scale manufacturing output.
At present, the construction of the corridor is in the stage of substantialexpansion in pursuit of high-quality development.
This project is a sign of a high degree of China-Pakistan developmentstrategy.
Pakistan is a key node in the process of China’s going west. Urumqi Customswill continue to increase port construction, serve key engineeringprojects, and improve customs clearance efficiency, laying a goodfoundation for the construction of the “China-Pakistan Economic Corridor”.
