Pakistan-China trade volume to touch $15 billion mark by 2012: foreign office

[Hyde]

Pakistan-China trade volume to touch $15 billion mark by 2012: foreign office​

PEER MUHAMMAD
ISLAMABAD (July 09 2010): The volume of bilateral trade between Pakistan and China would touch $15 billion mark by 2012, said Foreign Office spokesman Abdul Basit here on Thursday. At a weekly media briefing in the Foreign office, the spokesman said that Pakistan has further strengthened its relations with China during the last two years and the volume of its bilateral trade has increased to $8 billion.

The volume is expected to increase to $15 billion by 2012. He further said that progress has been made on the agreements and MoUs signed between the two countries, as over 100 Chinese projects in various fields are underway in Pakistan and thousands of Chinese are working on these projects.

He informed that President Zardari is presently in China and on Friday the President will attend Pakistan-China Co-operation Forum, which would also be attended by the representatives of different Chinese corporations including mining, construction, banking, shipping as well as representatives of Chinese Chambers of Commerce and Industries.

To a question about Dr Afia Siddiqui's repatriation, the spokesman said that Pakistan would appeal against any sentence to be announced by the US Court in the next month. He said that Pakistan has tried its level best and left no stone unturned for her repatriation. Pakistan's Mission in Washington is in touch with her family members, US Senators, thinks tanks and NGOs aimed at giving her possible relief.

To another question, he said the situation in Jammu and Kashmir is a matter of great concern for Pakistan as Human Rights situation in the valley has gone from bad to worse. He reiterated Pakistan's commitment for extending its full diplomatic and moral support to the people of Jammu and Kashmir in their legitimate struggle for their right of self-determination.

Commenting on the proposed meeting of External Affairs Minister of India and Pakistan to be held on July 15 in Islamabad, the spokesman said that Pakistan is coming to the dialogue table with positive mindset and looking forward to a result-oriented meeting towards addressing the outstanding issues. The spokesman was of the opinion that Pakistan is examining the case regarding Mumbai attacks and believes that whosoever committed the crime be brought to justice.

To a question, the spokesman said that both India and Pakistan have now realised that they should move forward and try to accommodate each others concerns and the upcoming meeting of the two Foreign Ministers would be helpful in promoting the mutual co-operation.

About the issue of fishermen of the two countries, he said, Pakistan is looking forward to discuss the issue in the proposed Ministerial level meeting and the fishermen detained in both the countries would be released as soon as possible. Commenting on the US's plan to withdraw ISAF forces from Afghanistan, he said it is the coalition countries' matter to decide about withdrawal of forces from Afghanistan. However, he underlined that being an immediate neighbour, Pakistan has been affected a lot due to the law and order situation in Afghanistan and it would like the coalition forces to take a decision keeping in view all the aspects.

The spokesman said that $5.2 billion pledges made at the FoDP Tokyo in April would be received in coming two to three years, adding that some of the amount has already been received. He added that Economic Affairs Division is in touch with the donor countries and is busy in identifying the projects and areas where the amount is to be utilised. To a query about delay in issuance of visas by the US and Pakistan to each other's citizens, he said that both sides are in touch to resolve the issue.

 

[Hyde]

Pakistan's export under FTA: China receives list of additional items​

MUSHTAQ GHUMMAN
ISLAMABAD (July 09 2010): China has received a list of additional 263 items that Pakistan wants to export to China under the Free Trade Agreement (FTA), well-informed sources told Business Recorder. Sources revealed that "most of the items included in the wish list are from the textile sector, engineering sector, chemical sector, fresh fruits and vegetables".

The financial impact of these additional items, if Beijing accepts the proposal will be around 1-1.5 billion dollars per annum on exports to China. Chinese Vice Premier Zhang Dejiang, during his recent visit, had assured Prime Minister Syed Yousuf Raza Gilani that four matters would be considered sympathetically:

(i) provision of a place for displaying of Pakistani goods in trade exhibitions, free of cost or at very cheaper rates; (ii) dispatching buyers' missions for procurement for public sector; (iii) facilitation of further Pakistani items for exports to China; and (iv) training of human resource.

Secretary Commerce, Zafar Mahmood is part of President Asif Ali Zardari's entourage currently on a weeklong visit to China as part of strengthening economic ties. Sources said that almost one year ago, the federal cabinet had directed the Commerce Ministry to review the FTAs signed so far but the Ministry has not reportedly implemented this instruction.

The cabinet had restricted the 'independence' of the Commerce Ministry over new FTAs, observing that the outcome of previous pacts appeared to be in favour of other trading partners instead of local industry. "FTAs signed in the past have encouraged imports rather than exports. New countries and groups for initiating FTAs should not be selected without proper analysis of potential advantages. Blanket permission of the cabinet for the proposed agreements should not be sought," the sources quoted Prime Minister Syed Yousuf Raza Gilani as saying in the special cabinet meeting on July 27.

Sources said, a couple of months ago, experts of China and Pakistan reviewed FTA where Pakistan complained that its exports had not been showing growth as per expectation and had requested the Chinese experts to include more Pakistani products in the FTA.

However, China did not show any interest in expanding the list of items being covered under the FTA and hinted that it will consider out of the box solution, sources continued. Local business community has also complained that the concerned Ministries do not consult the chambers before starting negotiations with other countries on Preferential Trade Agreements (PTAs) and FTAs.

 

[Hyde]

waise to its more like a dream but if this dream comes true....... expect total bilateral trade to be above 80 billion dollars (import/export) if the volume of 15 billion dollars is touched

 

[Rank]

for this i bet "AS USUAL" a common person in Pakistan HAVE NO CONCERN WITH THIS TRADE blaa blaa!

provide atleast cheap food we have everything but double expensive ....

Fedw days back i bought Australian apple IMPORTED APPLE COST Much less thn Local Pakistani apple

damn!

These kind of trade not even provide 1 % opportunity to citizen of pakistan and seriously if u ask any person on the road street anyplace he will reply if anyone ask OUR TRADE with CHINA touch 15 bn$$$ he or she will say "tu ham kya karain hamaray paas 2 waqt ke rooti khanay aur khelanay kay paisay nahe bachoon ko hamain isay kya lena dena".

 

[Hyde]

for this i bet "AS USUAL" a common person in Pakistan HAVE NO CONCERN WITH THIS TRADE blaa blaa!

provide atleast cheap food we have everything but double expensive ....

Fedw days back i bought Australian apple IMPORTED APPLE COST Much less thn Local Pakistani apple

damn!

These kind of trade not even provide 1 % opportunity to citizen of pakistan and seriously if u ask any person on the road street anyplace he will reply if anyone ask OUR TRADE with CHINA touch 15 bn$$$ he or she will say "tu ham kya karain hamaray paas 2 waqt ke rooti khanay aur khelanay kay paisay nahe bachoon ko hamain isay kya lena dena".

baat to tumhari theek hai Stealth, lakin agar economy grow karti hai to end of the day mulk ka hi faida hota hai. Jab government to thori relief milay gi tabhi woh awaam ko bhi de payen ge. Long term main yeh pooray mulk ka faida ho ga lakin short term main waqayi aam logon ko is baar se koi sar-o-kaar nahi hota.

Waise in ka faida to hai for example

If you buy something from Europe for 100 rupees, you may be samething from china for 80 rupees so you are saving 20 rupees which will be re-invested for some other projects and its output will bring a lot of benefits for the whole country.

Tumhari baat se main agree karta hon lakin taraqi karne ke liye mulk ki industry ko chalana bohat zarori hai aur woh aise hi chalti hai jaisa first post main likha hai (more export)