Pakistan China Trade

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Pakistan's exports to China expected to reach $4b​

Exports to China already increased by 11% in 2022

APP
August 03, 2022

SMEs, particularly in the engineering sector, have not been able to contribute adequately to the country’s exports due to the limitations on access to technology. Photo: file

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BEIJING: Pakistan’s exports to China have reached an 11% increase in the first half of 2022 and with this momentum it is likely to reach $4 billion by the end of this year.

The exports to the neighbouring country crossed $1.918b in the first half of this year, up by 10.97% from $1.728b in the same period compared to the previous year.
It continues to increase on yearly basis, as per the official data from the General Administration of Customs of the People’s Republic of China (GACC).

According to the State Bank of Pakistan (SBP), the country exported goods worth $2.78b during the 12 months of fiscal year 2021-22 against the exports of $2.04b during the same year, showing an increase of 36.08%.

According to sources, despite the epidemic of COVID-19, bilateral trade has increased significantly.

In the first half of this year, the total volume of trade between China and Pakistan increased nearly 15%, amounting to $14.39b as compared with the same period in 2021 which was $12.55b due to COVID-19.

Compared with the data of the first half of 2021, this year Pakistan’s exports to China in January increased by 17.80% amounting to $382.22m; in February it was up by almost 30% crossing $287.65m; in March it increased 7.23% amounting to $367.71m; however, COVID-19 impacted Pakistan’s exports in April causing a decrease of 21.15% standing at $283.53m; but in May it increased nearly 3% reaching $280.97m, while in June the increase was nearly by 54% crossing $316.36m.

An economic expert stated that, “China has opened up its market for Pakistani goods. The two countries can benefit from long-term relationships and Pakistani traders can export more goods to China, which is the second largest economy in the world.”

He also added, “Pakistan can also become a food basket for China because the Chinese market is huge and has good purchasing power, therefore Pakistan should take advantage of its good relationship and China can help relocate its industries and technologies to Pakistan, resulting in an increase of exports to not only China but to the world”.

 

[Luosifen]

Pakistani Furniture to be showed at ‘China-EurAsia expo’ at Urumqi​

By Shafqat Ali | Gwadar Pro Aug 16, 2022



ISLAMABAD, August 16 (Gwadar Pro)- Pakistan Furniture Council (PFC), in collaboration with Chenone, will participate in ‘China-EurAsia expo’ to be held in Urumqi China on August 25-30 to showcase Pakistani products and identify new global markets.
CEO of PFC Mian Kashif Ashfaq said that the 6-day expo will provide an opportunity to present a world class range of Pakistani products and all other allied services.
He maintained that it was a platform for import and export mainly with various and flexible pattern of trade.
Ashfaq informed that PFC and Chenone will both hold series of meetings with other multi nationals and exchange their professional expertise with each other for further improving the quality of their products to bolster trade in the field.
He mentioned that a sizeable number of other top Pakistani companies were likely to participate which will help determine market potential and evaluate competition besides initiating joint ventures and project partnership.
Ashfaq urged Trade Development Authority of Pakistan to further manage series of a single country expos in all major countries for the effective and result oriented promotion of Pakistani products which can compete globally with their competitors in terms of its best quality.
He contended that these Pakistani expos will help find out new partnerships to increase the volume of exports and enter into new joint ventures in their areas of interest.

Pakistani Furniture to be showed at ‘China-EurAsia expo’ at Urumqi

ISLAMABAD, August 16 (Gwadar Pro)- Pakistan Furniture Council (PFC), in collaboration with Chenone,

gwadarpro.pk

 

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Pakistan’s Ambassador to China, Moin-ul-Haque said that Pakistan’s exports to China have registered an upward trend in the first seven months of current year and with this momentum, it is likely to cross 4 billion dollars target by end of this year.

Talking to a group of businessmen in Beijing, the ambassador said our exports to China remained at 3.6 billion dollars with a record increase last year.

 

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Pakistan’s export to China up by nearly 7pc​

September 23, 2022




ISLAMABAD: Pakistan’s export to China crossed $2.40 billion in the first eight months of this year, up 6.23 percent year on year, Gwadar Pro reported on Thursday quoting the official data from the General

Administration of Customs of China.

According to data from GACC, overall from January to August 2022, China’s imports & exports from Pakistan counted $ 18.41billion, up 7.28% year on year while in 2021 the same period it was $17.16 billion. In the month of August Pakistan’s exports to China decreased 25.71 percent year-on-year, due to heavy monsoon caused flood and COVID-19 which destroyed many sectors including agriculture, infrastructure, and industry.

Dr. Mehmood Ul Hassan Khan, Executive Director, Center for South Asia & International Studies (CSAIS), Islamabad, told Gwadar Pro that China is Pakistan’s largest trading partner besides being the second largest export destination and last year, especially despite the pandemic, the bilateral trade was growing by a big percentage.

“Unfortunately, due to deadly floods, 33 million people have been forced to leave their houses. 18,000 square kilometers’ agriculture has been destroyed. Its massive destruction including that of the cotton crop would be disastrous for the country’s exports to China.

Moreover, the destruction of cashable crops and commodities has entangled the state, society, economy, and common people alike,” he stated.

It seems that the devastation of floods will drastically reduce exports to China in the coming months due to flood. So far, seafood, pine nuts, sesamum seeds, and rice remain top export products to China.

Pakistan’s exports to China in 2021 remained at $3.589 billion and in 2022 the export volume can reach $4 billion and with the increase in food products; however, Pakistani exporters must follow the rules and regulations set by the Chinese authorities for imports.

In this regard, according to Gwadar Pro, the Trade Development Authority of Pakistan (TDAP) in collaboration with China Certification and Inspection Group (CCIG) Shanghai, and Tofflon Group Shanghai organized a webinar on Tuesday.

Besides officials from TDAP and CCIG, a large number of Pakistani exporters and experts participated in the webinar.

Pakistan has become a major source for the export of food products particularly rice, seafood, dried fruits, nuts, fruits, pink salt, and processed food.

The Chinese officials briefed the participants on key economic indicators of China. As per the National Bureau of Statistics China (NBSC), the volume of China’s exports of goods is $3.36 trillion while the volume of China’s imports of goods is $2.69 trillion.

Pakistan’s exports to China are with the passage of time; the volume of exports in 2016 was $1.91 billion, in 2017 $1.83 billion, in 2018 $2.18 billion, in 2019 $1.81 billion, in 2020 $2.12 billion and in 2021 $3.589 billion.

“This year, Pakistan exports’ volume can surge up to $4 billion and the space is available in food products,” said one of the experts from CCIG.

According to the General Administration of Customs China’s statistics, the value of Pakistan’s food exports to China in 2021 was $840 million.

Of them, $609 million was vegetable products, $179 million was animal products while the value of prepared foodstuff was $52 million. Similarly, in 2021, the value of the export of nuts and dried food from Pakistan to China was $65 million.


In 2021, the exports of processed seafood from Pakistan to China 2021 were $8.4 million while the value of mangoes exported during the same year was $127 million.
China’s imports of rice are $2.2 billion, seafood $ 13.8 billion, nuts and dried fruit $2.2 billion while sesamum seed $1.7 billion.

Pakistani exporters can get major shares in the imports of these products; however, they need to know the general characteristics of the Chinese Consumer Market.
For example, due to an increase in per capita income and consumer expenditure, China is close to becoming an upper-income country with increasingly health & fitness-conscious consumers.
They are spending money on quality and imported food while online buying is becoming an increasingly popular mode of purchase.

To get maximum space in China’s market, Pakistan exporters should keep in compliance with import guidelines; they should develop a brand and build a website in the Chinese language, emphasize on health features of their products, prepare attractive and convenient packaging, make use of e-commerce platforms like Alibaba and JD, and promote their products through live-streaming and social media platforms.

 

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China’s exhibition platforms can help increasing Pakistan’s foreign exchange​

September 27, 2022




NANNING: Pakistan can make active use of the China-Asean Expo in Nanning, China International Import Expo in Shanghai, Canton Fair in Guangzhou and other product-specific platforms and exhibitions in China to increase its foreign exchange reserves, remarked Muhammad Irfan, Trade and Investment Counsellor, Consulate General of Pakistan in Guangzhou, China.

During the 19th China-Asean Expo, which was held from September 16 to 19, the counsellor told the China Economic Net in an interview that insufficient foreign exchange reserves has been a very serious problem for Pakistan in the past few years, especially in recent months. “Export is an important means to increase foreign exchange reserves and displaying and selling Pakistani products through exhibitions can effectively promote the popularity and export of goods to China and other Asean countries,” he emphasised.

Pakistan has exported a range of distinctive products through the exhibition, such as textiles, carpets, sporting goods, marble, furniture, etc. Muhammad Kamil, a Pakistani exhibitor, said that the Chinese love Pakistani handicrafts so much that they have signed short and long-term contracts with Pakistani exhibitors and many of whom are repeat customers.

Pakistan has been participating in the China-Asean Expo for many years. A larger Pakistan pavilion has been on display for the last two years. Each time, about 20 or more exhibitors participate in the national platform and trade development.
The signing of the second phase of China-Pakistan Free Trade Agreement in 2019 has allowed 313 more Pakistani products to enjoy duty-free access to the Chinese market. These include textiles including garments, leather and leather products, and fish.

Irfan mentioned that the Consulate General is working on issues related to the export of Pakistani fruits, meat and dairy products to China. “Despite travel restrictions caused by the pandemic, Pakistan’s exports to China have almost doubled in the past three years.”

Exports to China crossed $2.40 billion in the first eight months of current year, up 6.23% year-on-year. And “we still have $3 billion in potential exports to China.” The Chinese government has given preferential treatment to Pakistani products, but many Chinese consumers are curious to know what kind of products Pakistan can offer.

“By building such pavilions at the expo, more Chinese people can learn about Pakistani products, which are of good quality, cost-effective and from a friendly country,” the counsellor said.

“For the past two to three years, we have been introducing non-traditional Pakistani products like biscuits, sweets and drinks, which are also highly popular with the Chinese customers. We are also promoting Pakistani mangoes through B2B and B2C linkages.”

He revealed that numerous people in Guangzhou have asked to buy Pakistani mangoes, adding this year efforts have been started to introduce mango pulp and mango juice in the Chinese market.

Apart from its active participation in the on-site exhibition, Pakistan has opened online pavilions on the Chinese e-commerce platforms.

 

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Pakistani pine nuts’ exports to China in the first seven months of this year crossed US $41.48 million, according to the official data from the General Administration of Customs of the People’s Republic of China (GACC). Data from GACC showed that during January-July of 2022, China imported 3,770.76 tons of pine nuts from Pakistan worth $41.48 million while in the same period, China imported 11,513.7 tons of pine nuts around the world valuing about $88.020 million.

Overall, China has imported $88.020 million of pine nuts and out of that 47.12% is from Pakistan. Yar Muhammad Niazi, Chief Executive of Hangzhou Aiza Food, and Shaoxing Aiza Trading said that the export of Pakistani pine nuts to China enjoys zero tariffs and Pakistani pine nuts are classified as high-end snacks in the Chinese market, CEN reported. “The overall price of Pakistani pine nuts in the Chinese market is on the rise.

This year’s season will start in late September and our target is to export 1,500 tons to China. China is a big market and we need to do B2B cooperation to capture a larger part of this market,” Niazi said. He said that for the last two year the price remained low, valuing ¥130-140 per KG, while this year’s price is expected to go a little higher. They are now working on the value addition of this product and launching a new brand. Pakistani and Chinese governments should support Pakistani enterprises to participate in the exhibitions here to increase Pakistan’s exports to China, he added.

“China is one of the biggest buyers of pine nuts from Pakistan and even during the epidemic the Chinese government played a very vital role in having flexible policies in trade with Pakistan and that’s the reason why so far we have been successful to export pine nuts to China in huge quantity,” said Qadir Baloch, a pine nuts exporter hailing from Balochistan. Baloch, whose family has been associated with the pine nuts business for the last 55 years said that in the last few years China has become the main destination for Pakistani pine nuts and that is why local exporters are happy that they can earn a good profit from the neighbouring market

 

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China wants to import donkeys and dogs from Pakistan.

A meeting of the Senate Standing Committee on Commerce was held under the chairmanship of Senator Zeeshan Khanzada, in which during a briefing on imports and exports, Commerce Ministry officials said in the meeting that China wants to buy donkeys and dogs from Pakistan.

Committee member Dinesh Kumar said that China is asking Pakistan to export donkeys and dogs.

Committee member Mirza Mohammad Afridi said that animals are cheap in Afghanistan, but there are no buyers. In such a situation, animal meat can be imported and exported from here. Let us tell you that China uses the skin of donkeys to make medicines.

Due to Corona, it was reduced in China to buy meat from other countries or to buy donkeys and dogs. In the year 2021, China imported 9.38 million tonnes of meat, which was 9.91 million tonnes in 2020.

 

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According to the data from GACC, Pakistan’s rice exports to China from Jan to Aug 2022 reached US$ 414 m with a Y-on-Y increase of 48.40%.
Pakistan now ranks second among the rice exporters to China which have surpassed Southeast Asian countries..

 

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According to the data from GACC, Pakistan’s sesame seeds exports to China from Jan to Aug 2022 reached US$ 50.4 m with a Y-on-Y increase of 43.23%.

Pakistan’s sesame becomes the star of Chinese market as exports to China in 2021 was above US$ 120 m with nearly tenfold increase..

 

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Exotic Pakistani handmade
carpets attract Chinese customers​

The Frontier Post

BEIJING: Exotic Pakistani handmade carpets attracted Chinese customers at China International Import Expo, China Economic Net (CEN) reported it on Wednesday.
“This is one of the best opportunities we have every year!” said Imran Rah, CEO of ASIYA International Trading (Shanghai) Co.,Ltd adding, “CIIE is a 6-day event, but it helps us get together with a lot of customers for 365 days a year. With branding motions here, customers who love our products continue buying from us.”


Scheduled from November 5 to 10, the 5th China International Import Expo (CIIE) provides a platform for companies from around the world to display their products, promote their brands, and find more business partners in the world’s second-largest economy.

Showcasing the exotic handicrafts, such as hand-made carpets, shawls and scarves, Imran told the reporter that “Our main goal for the expo is not just the six days. We promoted throughout the year, and we can continue to do business with the customers we met here.”

“We had a great experience in participating at CIIE because it’s helped a lot in growing our business and also interacting with other business partners,” said Javed Mohal, Assistant to the CEO of founder of WINZA Jewelry and CEO of Atlantis Co., Ltd., a Pakistani jewelry brand, adding that they would like to spread the Pakistani culture of art, handmade crafts, and share its essence and elegance with the world.

Ismail, sales manager of ASIYA, said “You can get in touch with a lot of very high-quality customers that you don’t normally meet. When the expo ends, we discuss the details of cooperation with our clients and the final turnover may be equivalent to the turnover of several of our stores in a year.”

“This pattern [on the carpet] has been passed down for hundreds of years in Pakistan. It is the most classic pattern, with classical beauty,” Ismail was presenting a carpet to coming visitors. And a carpet worth 1,000 (Rs.30,000+) was sold in a few words.

Courtesy of the booming Sino-Pak trade and investment cooperation coupled with important platforms such as CIIE, Pakistan’s overall export to China has registered steady growth in recent years.

As per Ismail, in recent years, the performance of handicrafts in the Chinese market has maintained a steady growth, because now the consumption power of the Chinese people has become stronger, and people are more and more fond of handicrafts, especially the foreign ones that featured culture and style from another nation.

It is a niche market in China, he added, saying that they introduced and preserved the local Pakistani style and culture in their products which attracted more and more Chinese customers.

“China is a huge market. Thanks to platforms like CIIE, we are trying our best to do promotion in this market and promote our brand here,” Imran Rah said. (INP)

 

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Pakistan's fruits & vegetable export to China reached $54.34 million, Jan-Sept 2022. They win the hearts of customers because of their good taste and high quality..

 

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Pakistan Permanent Pavilion Inaugurated at Shanghai Waigaoqiao FTZ​

By Mariam Raheem | Gwadar Pro Nov 25, 2022



SHANGHAI, Nov. 23. (Gwadar Pro) - “The establishment of the Pakistan Permanent Pavilion at the Global Hub, Shanghai Waigaoqiao Free Trade Zone (FTZ) is of great significance for enhancing the awareness of Pakistan’s high-quality and branded goods and expanding its exports to China and other countries,” highlighted Hussain Haider, Pakistan’s Consul General in Shanghai at the inauguration ceremony of the Pakistan Pavilion on Wednesday.

Pakistan Pavilion at the Global Hub, Shanghai Waigaoqiao Free Trade Zone (FTZ)
Terming the pavilion as an important sign of promoting the bilateral relations between China and Pakistan, the Consul General added that it would help create a better understanding of Pakistani products in a well-known global metropolis like Shanghai. He said that, “China is Pakistan’s second largest export destination and the opening of national pavilions in different cities has created more channels between Pakistani products and Chinese consumers. With the passage of time, more Pakistani businessmen with a wider variety of products will find their way into the pavilion and Chinese market.”
The CG further maintained that, “the Pakistani Consulate General will continue to build platforms for exchanges and cooperation between Chinese and Pakistani enterprises, and will hold more docking meetings and activities at the National Pavilion in the future.”
The Waigaoqiao FTZ is China's first of its kind, with the highest economic aggregate. It benefits from pilot policies and professional trade service teams that can help cross-border and domestic trade. Li Chunxi, Vice General Manager of Shanghai Waigaoqiao International Trading Operation Center Co., Ltd, congratulated Pakistan on the establishment of the Pakistan National Pavilion and welcomed more interactions with Pakistani businesses.
Aqeel Chaudhry, who is in charge of the pavilion has been in China for over 20 years and has participated in the China International Import Expo (CIIE) for five years in a row. He believes that the Pakistan Pavilion will benefit from the spillover effect of the extended CIIE and turn the exhibits into commodities. He also invited more Pakistani businesses to display their wares at the Pakistan Pavilion in Shanghai.
The pavilion was elegantly designed and attracted the interest of visitors from all walks of life. Items currently in the 100-square-meters-plus pavilion are handmade carpets, copper and jade ornaments, carved wooden screens, tables and chairs. When Gwadar Pro interviewed people at the pavilion, they were upbeat about China-Pakistan ties and hoped that events like this would strengthen trade ties between the two iron brothers.

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China-Pak trade: RMB-Rupee begins de-dollarization​

By Yasir Habib Khan | Gwadar Pro Nov 25, 2022



“With the implementation of new financial currency arrangement by converting Chinese currency “RMB” directly into Pakistan rupee without involving the US dollar, Chinese investors can save 0.5 million Pakistan rupee on every transaction of Rs. 10 million,” says Liao Longtai, General Manager (GM) of Hangeng Trade Company in Gwadar.
Talking to Gwadar Pro, he said “the new mechanism has boosted our confidence and more investors will pour in to invest in Pakistan in general and Gwadar in particular”.
“In the previous financial system, Chinese traders and investors had to first convert RMB into the US dollar and then into the Pakistani rupee. Owing to the volatile value of the US dollar, exchange rate damage had to be borne out by Chinese traders that used to keep them upset. The new RMB-Rupee direct conversion mechanism has finally ended the loss for Chinese investors,” he added.
In Pakistan, hundreds of Chinese companies are working in the sectors of energy, telecom, automobile, agriculture, medicine, transport, infrastructure, industry, and many more. Hangeng Trade Company GM Liao Longtai is among thousands of Chinese officials who have termed the development a watershed moment that is going to catalyze Pakistan-China trade.
The breakthrough has also quashed a sense of reluctance among potential Chinese enterprises interested to pump fresh investment into CPEC projects. In the past, one of their major concerns was financial damages due to the unpredictable exchange rate in Pakistan.
According to the Memorandum of Cooperation between the People's Bank of China (PBOC) and the National Bank of Pakistan, PBOC has decided to authorize the Karachi Branch of the Industrial and Commercial Bank of China (ICBC) to act as the Pakistani RMB clearing bank, PBOC announced last week. It will undertake supervisory and regulatory responsibilities. Officials from ICBC along with senior officials from the Chinese Consulate Karachi and Bank of China visited Gwadar this week to review the progress on CPEC projects.
Mr. Luo Jianxue, President of the Lahore Overseas Chinese Association said that direct exchange of Chinese and Pakistani currencies can reduce the links and save the cost of capital exchange and will no longer be affected by the change of the US dollar exchange rate.
Chinese Consulate Lahore Commercial Counsellor Yan Yang said that on July 13, 2021, China and Pakistan renewed the bilateral currency swap agreement with a scale of 30 billion RMB (Rs. 730 billion).
It augurs well that Pakistan has entered into the RMB settlement club as China's RMB settlements with Belt and Road countries stood at 5.42 trillion yuan (763.4 billion U.S. dollars) in 2021, up 19.6 percent year on year. It accounted for 14.8 percent of China's total cross-border use of RMB in 2021, said a report released by the People's Bank of China.
By the end of 2021, China had signed bilateral currency swap agreements with 22 countries along the Belt and Road and established RMB clearing arrangements in eight countries along the Belt and Road.
The Pakistani government had been weighing up an option for CPEC investors, especially companies in the Gwadar Free Zone, to operate in RMB to save them from financial losses being incurred by the downward spiral of Pakistani currency against the US dollar.
The matter rose to prominence when COPHCL Chairman Zhang Baozhong briefed Prime Minister Shahbaz Sharif during Federal Steering Committee on Gwadar initiatives a few months back about concerns that deter Chinese investment in Gwadar relating to currency devaluation. He requested that Chinese investors be allowed to maintain accounts in RMB in Gwadar Free Zone without getting their invested money converted into Rupees.
Earlier, Prime Minister Shehbaz Sharif directed the State Bank of Pakistan (SBP) to convene meetings with the Industrial and Commercial Bank of China (ICBC) and Bank of China for the use of RMB/PKR for bilateral trade between China and Pakistan.
Prime Minister Shehbaz gave the instructions to SBP during a meeting with the Chinese businessmen held on May 30 this year. For the promotion of trade in the Chinese currency, a pilot project encompassing the introduction of ‘RMB pricing’ will be introduced in the first phase. In the second phase, RMB settlement and financing policies will be focused on. The exchange rate for the currencies of both countries will be set in the China Foreign Exchange Trading System (CFETS) and in authorized banks declared as cross-border currency markets in China and Pakistan, according to the official details.

 

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A common currency with China won't be a bad idea