Pakistan need to further enhance $ 1.33 billion exports to China: Senior businessperson

Lahore: There is a need to further enhance exports to China which stood at US $ 1.33 billion and had grown by 59.05% this year, said a senior Pakistani businessperson.

Addressing a workshop on ‘Strengthening Trade Relationship with world’ organized by former Senior Vice President Lahore Chamber of Commerce and Industry (LCCI) Meher Kashif Younis, maintained that China had emerged second top export destination and exports to China grew by 59.05 percent to US $1.33 billion against US $837.91 million in the corresponding period last year.

He contended that the exports to China could be boosted to unprecedented level due to the friendship between the two countries.

He stated that the United Kingdom ranked third top export destination showing an increase of 19.79 percent to US $1.14 billion against $956.524 million during the period under review.

He informed that exports to UAE, Germany, Netherland, Spain, Afghanistan and Bangladesh registered nominal increase however exports to Saudi Arabia and Canada dropped slightly.

Presenting overview about Pak-US trade prospects, Meher Kashif Younis, mentioned that the US remained top export destination of Pakistani products during first half of FY 2021-22 increased by 45.95 percent to US $ 3.32 billion against US $2.27 billion in FY 2020-2021 ahead of China.

Shahid Nazir, Executive Committee Member observed that it was high time for the US and EU private sector for injecting more direct or indirect investment in different sectors of Pakistan as Prime Minister Imran Khan had offered an excellent historic package of incentives to foreign investors under one window policy and all foreign investments across the world pouring in Pakistan had given full lawful protection in the Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC).