Yiwu, a gateway for Pakistan’s exportable products: Pakistani Envoy
SHANGHAI, Mar. 29. (Gwadar Pro)- “In 2022, Pakistan’s trade with the YRD region exceeded USD 11 billion. Within the YRD region, the Zhejiang province, in which the Yiwu city is located, is Pakistan’s largest trading partner, and contributes USD 6.7 billion to bilateral trade. An immense potential for further increasing bilateral trade volume exists and can be tapped into by concerted efforts of govts and businesses,” highlighted Hussain Haider, Consul General of Pakistan in Shanghai.
Addressing a webinar between the Consulate General of Pakistan in Shanghai and the People’s Government of Yiwu yesterday, the CG described Yiwu as a gateway for exportable products of Pakistan. A sizeable Pakistani community resides in Yiwu and is making a healthy contribution to bilateral trade as well as the development and prosperity of the city, he added that, “Yiwu houses Pakistan’s permanent pavilion, which was built and is being run with the support of the Yiwu Municipal Govt. The pavilion will act as an effective platform for introducing more quality Pakistani products to China.”
Yiwu accounts for the world’s largest wholesale market for small commodities and is also known as the world’s supermarket. The city offers immense opportunities for Pakistani businesses looking to gain a foothold in the Chinese market. The CG underlined that Pakistan and Yiwu businesses would enter into mutually beneficial cooperation relations with their Yiwu counterparts to give further momentum to the bilateral commercial ties.
Speaking on the occasion, Wang Wei, Deputy Mayor of the Yiwu People's Government, pinpointed that the digitization of trade in Yiwu has enabled high-quality development of international economic and trade cooperation. It is committed to reducing cost, enhancing efficiency and empowering small, medium and micro players in the market, providing a full range of trade and financial services, and creating a “world supermarket” with global trading and global payment. Yiwu welcomes Pakistani enterprises to bring more quality products to Yiwu.