LAHORE: Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) on Tuesday lauded an initiative of Pakistani and Chinese government for reopening the Khunjerab Pass after a closure of almost three years due to the Covid-19 pandemic.
Reopening of the pass removed a hurdle that would further expedite the pace of work on the China-Pakistan Economic Corridor (CPEC), the joint chamber said. PCJCCI appreciated relevant authorities of the two countries and team members over the restoration of trade and travel facility.
“Khunjerab Pass connects Gilgit-Baltistan with China’s Xinjiang Uyghur Autonomous region and is a major trade route between Pakistan and China,” PCJCCI president Moazzam Ghurki during a think tank session said.
In 2019, trade volume between China and Pakistan surged by nearly 47 percent to $856.3 million. However, closure of the pass caused the exchequer suffer with around Rs8 billion revenue losses, as the CPEC-related shipments had halted following the border closure.
“Hundreds of people affiliated with the Pakistan-China border trade face economic hardship following suspension of trade and travel between the two countries through the Khunjerab pass,” he added.
Fang Yulong, senior vice president at PCJCCI, apprised that Khunjerab Pass lies on the strategic Karakoram Highway, which is a part of multibillion-dollar CPEC project. “The port is extremely important platform and is considered to be an important link to China’s flagship Belt and Road Initiative.”
Yulong stated that the trade at Khunjerab Pass was conducted through the newly-introduced Web-based One Customs (WeBOC) system. The government believed that trade would be much easier after WeBOC as it would align the Sust dry port with all the modern infrastructure in dry ports across the country, according to Yulong.
Hamza Khalid, vice president at PCJCCI, said reopening of the border crossing was expected to boost economic activities between the two countries China. “The constant assistance and reopening of this border will do wonders for the emerging economic status of Pakistan and will certainly have a positive impact on the business community,” he said.