By Masood Sattar Khan
(Pakistan News & Features Services)
Pakistan and China, on July 4, deliberated on reopening of Khunjerab border as well as strategies to exploit bilateral trade and investment opportunities in the wake of COVID-19 pandemic.
The Advisor informed the Chinese envoy that around 186 containers were stuck at the Khunjerab border, having caused great concern among small businesses in particular.
The Ambassador apprised the Advisor that temporary reopening of the border was under consideration in order to clear the backlog of containers. Both sides agreed to finalize the modalities in this regard to resolve the issue on priority.
The Ambassador apprised the Advisor that temporary reopening of the border was under consideration in order to clear the backlog of containers. Both sides agreed to finalize the modalities in this regard to resolve the issue on priority.
The Advisor underscored that the exports of Pakistan were beginning to gain momentum after a slowdown caused by COVID-19 outbreak and subsequent lockdowns, urging that both sides needed to discuss issues pertaining to bilateral trade with emphasis to further diversify the products being exported from Pakistan, with a specific focus on value-addition, under Phase II of the China Pakistan Free Trade Agreement.
The Chinese Ambassador threw light on some proposals for joint ventures between Chinese and Pakistani companies, particularly in value added agriculture sector.
The Advisor highlighted that meat and poultry exports of Pakistan have risen by more than 50% in the fiscal year 2019-20, with market accessibility to Middle East.
The cooperation on ongoing projects of CPEC were also discussed during the meeting as the Advisor emphasized the need to start the industrial activity through development of Special Economic Zones.
The Ambassador gave a brief overview of plans to enhance bilateral trade and investment, adding that China was moving fast on some of the construction projects in Pakistan, which would create a number of jobs for the local population.
