Pakistan’s agri products export to China to grow further: Commercial Counsellor

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BEIJING-Pakistan has rich potential of the export of agricultural products to China and the present government is taking concrete measures to take advantage of huge demand of fruits and vegetable in the Chinese markets, said Commercial Counsellor, Pakistan Embassy Beijing, Ghulam Qadir.  

“I think the increase in the agricultural products exported to China this year is still tip of iceberg. The potential is much more and we are working hard to further enhance our exports to China,” he told media. 

According to the data from China Customs, Pakistan’s agricultural products exported to China from Jan to Aug 2022 reached $730 million with a year-on-year increase of 28.59 percent. Pakistan’s agricultural exports to China are expected to exceed a record high of $1 billion in 2022. He informed that both Pakistani and the Chinese authorities were satisfied over the increase but they expressed a need to improve the trade balance between the two countries. 

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“So, we are working hard with the Chinese authorities for making more cooperation and we’re expecting some good news about exports of different products,” he added. 

Ghulam Qadir hoped that more export could also start and having $1 billion worth of agricultural products’ exports to China was still not enough as compared to the overall potential of the Chinese market.  He said that more efforts were needed to enhance exports and he vowed to continue to work with the relevant authorities in this regard. 

The commercial counsellor said that at present agricultural products including fruits, vegetable, sesame seed, pine nuts and sea-foods were being exported to China. 

“These are overall products, but we need to increase that basket and we are working on it,” he added. 

As per official data, Pakistan’s trade surplus with China in agricultural products also reached $527 million with a year-on-year increase of 48.38 percent in the same period.  The trade surplus of agricultural products for the whole year of 2021 was $640 million with an increase of 13 times. 

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Financial bonds floated by China EximBank exceeds 10 

trillion yuan

Yuan-denominated financial bonds floated by the Export-Import Bank of China (China EximBank) has exceeded 10 trillion yuan (about 1.4 trillion US dollars), data from the bank showed.

The lender has recently issued three batches of financial bonds totaling 20 billion yuan in the interbank bond market. Since its establishment in 1994, the bank has attached great importance to bond business development, with its annual bond issuance now standing at 1.6 trillion yuan. China Eximbank is a state-funded and state-owned policy bank that supports China’s foreign trade, investment, and international economic cooperation.

The Nation, 03 Oct, 2022
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