Pak-China trade must touch new heights of economic co-op
Founder Chairman Pak US Business Council Iftikhar Ali Malik Monday hailed the visit of Vice President of the People's Republic of China Wang Qishan to Pakistan and urged for deeper economic cooperation with China saying that this collaboration would usher in a new era of progress, prosperity, development, economic growth and welfare of the people of the region.
Commenting on the visit of Chinese VP visit Iftikhar Malik said the business community of Pakistan was committed to further boost PakChina trade relations, increase exports and minimize the trade deficit between the two countries.
He said that Pakistan China friendship was the finest example in the diplomatic history of the world adding the all weather friendship between both the nations was strengthening with every passing day in all fields of life, including economic and trade," says a press release issued here.
He further said that Pakistan and China have successfully transformed their diplomatic relations into geo economic partnership.
He urged manufacturers and exporters of various products in Pakistan to work hard for increasing their exports, however stressed for sustainable efforts to minimize overall trade deficit of Pakistan.
Like various other countries, the trade balance between China and Pakistan is largely in favor of China.
"Pakistani exporters have lot of potential and abilities to increase exports ", he added.
Iftikhar Malik said that Pakistani business community was fully aware of its responsibilities to boost the trade specially the exports and earn foreign exchange for their country.
He said that Pakistan had rich mineral resources. Precious stones, semi precious stones and handicrafts of Pakistan have world's recognition, he said.
The veteran trade leader urged Pakistani businessmen need to explore more potential of these sectors in China and various other countries . He said that joint ventures with Chinese for exploration of mineral resources and exporting them can also be good options for earning dollars. "China has huge consumers base in the world and it is first door neighbor of Pakistan and has friendly environment for Pakistanis. Therefore, we need to further increase our trade specially the exports".
He said that ChinaPakistan Economic Corridor (CPEC) had also opened new vistas of economic, trade and cultural, relations between both the countries. He said that Pakistan would be the biggest beneficiary of the Belt and Road Initiative, as 20 per cent of the total sum allocated for the project was being invested in Pakistan, which would significantly improve the standard of living of the people.
Iftikhar Malik who is also Chairman United Business Group and former President FPCCI and LCCI said that China was fast growing economy and Pakistan has cheap labor and low cost raw materials which makes a perfect combination of creating win a win situation for both the sides.
Appreciating Prime Minister Imran Khan's role for strengthening Pak trade relation with China said that the Prime Minister had a vision and dynamic leadership quality and he could play constructive role to strengthen trade in South Asia by bringing China in the folder of SAARC countries which would be harbinger of prosperity and peace in the region.