Work is underway for organizing “Traders’ Alliance” between Pak-China

December 07, 2022 (MLN):  The work is underway for organizing the “Traders’ Alliance” between the exporters and importers of China and Pakistan in order to share information and explore opportunities to improve their existing trade cooperation, commercial and economic Counsellor of the Peoples Republic of China Yang Guangyuan said.

Mr. Yang Guangyuan shared his views during a meeting at the Karachi Chamber of Commerce & Industry (KCCI) on Tuesday.

“More than 20 Chinese traders would like to join this traders’ alliance which is being supported by several provincial governments and it would hopefully be supported by the Chinese Ministry of Commerce”, he added.

He further added that this initiative will prove beneficial for the business communities and the economies of the two countries.

Commercial Counselor said that it was an interesting project which has recently been discussed by a think tank and various companies in China at an event organized recently to review how Chinese companies can go for Dhabeji SEZ and what can be established in this Zone.

To note, Dhabeji Special Economic Zones is situated near Karachi, Pakistan.

He said, “Trade and investment cooperation between China and Pakistan should be practical and pragmatic. There is a need to raise awareness about Pakistan amongst Chinese people as most of the business people do not know about the trade and investment opportunities here hence, we have a lot of work to do and I will be seriously focusing on this area.”

He was of the view that in the first phase, the projects under China-Pakistan Economic Corridor (CPEC) were mainly related to Government-to-Government (G2G) but now, it has entered the second phase which will be driven by Business-to-Business (B2B). “With joint efforts, we can certainly have a better future for Pakistani and Chinese friends”, he added.

Earlier, President KCCI Tariq Yousuf, while seeking the Chinese Consulate’s help in promoting trade, business, and economic activities between the two countries, said that it was a matter of grave concern that Pakistan’s share in China’s overall imports was less than 1 percent.

“With such low exports to China, we stand nowhere hence, we need to take concrete and positive steps to enhance our exports to China. We have to capture each other’s markets which are really big in terms of population by developing strong business ties between the two countries”, he added.

He opined that China’s labor has become expensive now whereas Pakistan still offers a cheaper labor force hence, the business communities of the two countries must look into the possibility of undertaking joint ventures in Pakistan for manufacturing a wide range of products that can not only be exported but also supplied locally in the Pakistani market.

President KCCI requested the Commercial Counselor to form some kind of a committee or a club between the business communities of the two friendly countries for creating a win-win situation.

“The proposed committee would provide a perfect opportunity for us to learn from Chinese know-how in the manufacturing of various products including yarns, plastics, plastic resin, electronic chips, etc.

We have to do something positive and take practical steps by partnering with each other as there is tremendous scope for having more business relationships with China”, he said, adding that although the two governments are constantly taking steps to improve relationships the entrepreneurs must also come forward and collaborate.

“It is my desire to make efforts for improving Pakistan’s exports to China from the existing less than 1% to at least 3% which would be a great achievement but it is only possible through collective efforts”, Tariq Yousuf said, “We want to transform our friendship into a real industrial partnership.”

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