From January to December 2010, Pakistan’s exports to China increased by nearly US $ 500 million and their overall growth rate was 37.4 per cent.
According to the figures released by China Customs, the total Pakistani exports to China last year were US $ 1.7 billion compared to US $ 1.2 billion in 2009.
Since 2006, Pakistani exports to China has been gradually climbing. The total volume of Pakistan-China trade rose by US $ 2 billion to US $ 8.7 billion approximately.
Last year, textiles, ores and mineral products, leather, chemicals and plastics, sports goods, iron and steel, surgical instruments showed the trend of faster growth rates.
In 2010, Pakistan’s imports from China also increased by US $ 1.4 billion and the total volume of imports from China stood at US $ 6.9 billion.
The trade deficit right now for Pakistan is US $ 5.2 billion.
“The two governments have agreed on a series of measures to reduce the trade deficit” said Ambassador Masood Khan on Friday adding that in this regard, China would be sending purchase missions to Pakistan to identify suitable Pakistani products for Chinese markets.
He pointed out that Pakistani traders and businessmen will be attending major trade exhibitions in Kunming, Guangzhou, Xi’an, Urumqi, Kashghar,Dalian, and Beijing.
Trade seminars would also be held to create greater space for Pakistani products in China.
Meanwhile, Pakistan has requested assistance from China in vocational and technical training in the areas of value added textiles, gems and jewelry,ceramics, surgical instruments, leather and light engineering.
At the last meeting of the Free Trade Commission (FTC), China agreed to consider the proposal and invite Pakistan to identify specific training needs in these areas.
Pakistan has also requested China to give unilateral tariff concessions to 268 Pakistani product lines.
Pakistan is the second largest trading partner of China in South Asia.