CAEXPO as the bridge of China-Pak cooperation
By Staff Reporter | China Economic Net Sep 7, 2021
Nanning, September 7 (China Economic Net) - "At this year's China-ASEAN Expo (CAEXPO), President of Pakistan Arif Alvi will deliver a video speech at the opening ceremony, and Pakistani ambassador to China Moin ul Haque will attend it. This is the second time that Pakistan joining CAEXPO as a Special Partner Country. It is of great significance to both countries," said Wang Lei, Secretary-General of the Secretariat of the CAEXPO in an interview with China Economic Net.
The 18th CAEXPO will be held in Nanning, China from September 10 to 13 in a mixed model of Physical & Online CAEXPO adopted for the second time, with the theme of "Sharing Opportunities Created by the New Land-Sea Corridor, Building the China-ASEAN Community with a shared Future". As an important window for exchanges and cooperation between China and ASEAN and other "Belt and Road" countries, CAEXPO has played an important role in promoting economic and trade cooperation between Pakistan and China.
Last year, President of Pakistan Arif Alvi stated in a video speech at the opening ceremony of the 17th CAEXPO that the China-Pakistan Economic Corridor has created miracles. Because of the increasing cooperation between Pakistan and ASEAN, he hopes that all parties can explore the feasibility of establishing a Pakistan-China-ASEAN trade triangle.
Nowadays, China has become Pakistan's largest trading partner, largest source of imports and the second largest export destination. Since the signing of the China-Pakistan Free Trade Agreement in 2006, the proportion of tariff lines with zero-tariff products between China and Pakistan has gradually increased from 35% to 75%. According to statistics from the Ministry of Commerce of China, China's imports from Pakistan in 2020 amounted to US$ 2.12 billion, a year-on-year increase of 17.5%. In addition, the investment exchanges between the two countries have become increasingly close. China has become Pakistan's largest source of investment for 7 consecutive years. The China-Pakistan Economic Corridor has brought in direct investment of US$ 25.4 billion to Pakistan and created 75,000 jobs. Furthermore, in the first half of 2021 alone, China-Pakistan trade volume has reached USD 12.56 billion, a year-on-year increase of 63.0%.
It is understood that since the 13th China-ASEAN Expo, the Ministry of Commerce, Pakistan, Embassy of Pakistan in China, the Consulate General of Pakistan Guangzhou, Pakistan Chambers of Commerce & Industry and many other Pakistani official institutions and enterprises have participated in the expo many times and showed mainly carpet, marble, wood handicrafts, and other specialty products of the country, which have caught attention of many enterprises and audiences.
"Participating in the China-ASEAN Expo is a good opportunity for Pakistani enterprises to display their products. And CAEXPO can play a significant role in promoting the Pakistani enterprises to enter the Chinese market. I hope that through the CAEXPO, Pakistani enterprises in various fields can grasp more opportunities," noted Muhammad Irfan, Trade & Investment Counselor of Consulate General of Pakistan Guangzhou.
In addition, according to Secretary General Wang Lei, China and Pakistan will organize commemorative activities of 70th anniversary of the establishment of diplomatic relations at the 18th China-ASEAN Expo with the theme of "enhance strategic mutual trust", including national image show and product display, as well as the China-Pakistan Economic and Trade Cooperation Forum.
At the 18th CAEXPO, with an exhibition area of 81 square meters, Pakistan will organize 15 Pakistani companies to show various products with 28 booths.
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