‘Pak-China traders’ alliance in the offing’

KARACHI: Work is underway for organising a traders’ alliance between the exporters and importers of China and Pakistan to provide them a space to share information and explore avenues for improving existing trade cooperation between the two countries, Commercial and Economic Counsellor of China Yang Guangyuan said 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 China's Ministry of Commerce as well,” the counselor stated speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI).

He was of the view that the initiative would provide beneficial for the business communities on both sides.

“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,” the Counsellor stated.

Referring to Dhabeji Special Economic Zone (SEZ) situated near Karachi, Guangyuan apprised that the project was recently discussed by a think tank and also different companies in China at an event organised to review how Chinese companies could become a part of Dhabeji SEZ.

He further said in the first phase, the projects under China-Pakistan Economic Corridor (CPEC) were mainly related to government-to-government but the second phase would be driven by business-to-business. “With joint efforts, we can certainly have better future for Pakistani and Chinese friends.”

Earlier, KCCI president Tariq Yousuf asked the Chinese consulate to help in promoting trade, business, and economic activities between the two countries, lamenting 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,” said.

Yousuf opined that the business communities of the two countries could look into a possibility of undertaking joint ventures in Pakistan for manufacturing a wide range of products, which could not only be exported but also be supplied locally in the Pakistani market.

He requested the commercial counselor to form a committee or a club between the business communities of the two countries. “The proposed committee would provide a perfect opportunity to us to learn from Chinese know-how in manufacturing of various products including yarns, plastics, plastic resin and electronic chips etc.”

KCCI president expressed his desire to make efforts for improving Pakistan’s exports to China from the existing level of one percent to at least three percent with collaborative efforts from both sides.