ISLAMABAD: In the financial year 2020-21, Pakistan’s exports to China have surged by 34 percent, hitting 2.33 billion dollars highest level.
In a tweet on July 6 (Tuesday), adviser to prime minister on trade and commerce said: “I’m pleased to share with you that our exports have done quite well in our major markets. During FY2021, our exports to China increased by 34% to $2.33 billion as compared to $1.74 billion in the previous FY, increasing by $586 million,” he said Dawood.
Pakistan, China are longtime allies and also partners in the multi-million-dollar China-Pakistan Economic Corridor (CPEC), part of the ambitious China’s Belt and Road Initiative, which aims to connect Asia with Africa and Europe via land and maritime networks to boost trade and stimulate economic growth.
The $64 billion mega-project signed in 2014 aims to connect China’s strategically important northwestern Xinjiang province to the Gwadar port in Balochistan, Pakistan through a network of roads, railways, and pipelines to transport cargo, oil, and gas.
Abdul Razak Dawood appreciated Pakistani exporters for achieving this growth despite the problems created by the Covid-19 pandemic. “I also commend the efforts of MOC’s Trade & Investment Officers and urge them to provide even greater facilitation to our exporters,” he said.