Pakistan Seeks to Increase Exports to China

In a positive development, an important mission from China is coming to Pakistan on September 27 and will place import orders, Internews reported. This will help reduce the trade deficit in trade with China that stands at over $14 billion, senior officials from the commerce ministry said. There is a realization, the officials said, in Beijing that Pakistan’s trade deficit with China has increased manifold particularly after the implementation of FTA-1. “Now the authorities in Beijing have decided to dispatch a buying mission to Pakistan which will purchase goods worth $300-400 million depending on the availability of exports surplus Pakistan entrepreneurs have. The government wants  the buying mission from China to be a regular feature other than the formal trade between the two countries. Pakistan’s imports from China currently stands at over $16 billion whereas export to China stand at over $2 billion showing the trade deficit of over $14 billion in favor of China.