China Pakistan bilateral trade to cross $25 billion: Ambassador Haque

“Despite COVID-19 pandemic, this year our bilateral trade is expected to cross $25 billion value with a great momentum with Pakistan’s exports to China expected to cross $3.54 billion, which is unprecedented and historic figures,” said Moin ul Haque, the Ambassador of Pakistan to China.

Ambassador Haque was addressing China-Pakistan Economic Corridor (CPEC)’s Industrial Cooperation B2B Investment Conference in Lahore via video link on Tuesday with the objective of transforming CPEC into a true economic hub by establishing Special Economic Zones (SEZs) in Punjab and business ventures in different sectors.

“In recent years, our two countries have been focusing more and more on economic and commercial cooperation. For many years, China, being a largest trading partner, has been the largest source of FDI,” Mr. Haque said.

He said that President Xi Jinping once said that the Belt and Road Initiative (BRI) is not an empty slogan, but a visible, tangible, practical initiative, which will bring many tangible reserves and benefits to the region. “CPEC being a flagship project of BRI is an emblem of President Xi Jinping’s statement,” he added.

According to the Ambassador, CPEC is a “game changer” and a “transformational project”, which has opened new frontiers for us. “Pakistan commitment to CPEC remains strong and enduring and we are aware of evil designs of our detractors and adversaries who want to sabotage CPEC,” Mr. Haque said, adding “our two countries therefore, remain vigilant and would not allow anyone to damage China Pakistan friendship and our shared interest”.