CAEXPO providing new opportunities for Pak, China

The 18th China-ASEAN Expo (CAEXPO) set to begin in Nanning, China from September 10 will keep providing new business and development opportunities for China and Pakistan.

"As an important platform for exchange and cooperation between China, ASEAN countries and the countries along the Belt and Road, the China-ASEAN Expo (CAEXPO) has played a key role for the economic and trade cooperation development between Pakistan and China and ASEAN countries," according to a statement issued by Secretariat of Expo.

It said, located at northwest of the South Asian Subcontinent, Pakistan plays an important role to implement the Belt and Road Initiative (BRI). With the purpose to support the implementation of BRI, the 18th CAEXPO sets up a Belt and Road international exhibition area to host BRI related forums and economic and trade events, which serves as a key platform for China to strengthen its exchange and cooperation with the countries along the BRI.

For many years, Pakistan has been an active participant of the CAEXPO to promote its specialty products, seek cooperative partners, and tap into the Chinese and ASEAN markets.

A total of 64 Pakistani official bodies and enterprises have used 122 booths since the 13th CAEXPO to showcase its national image, top carpets, wood furniture, handicrafts and other specialty products. Through this platform, Pakistan has achieved remarkable results.

Pakistan participated in the 17th CAEXPO as a Special Partner Country for the first time, set up a national product exhibition area to showcase its superior products and achievements in the key industries, and hosted a number of events including the Pakistan Trade and Investment Promotion Conference.

All these efforts have promoted the economic and trade exchanges and cooperation between Pakistan and China and ASEAN countries.

President Arif Alvi addressed the 17th China-ASEAN Expo Opening

Ceremony and pointed out in his speech that he believed the CAEXPO would provide help for the trilateral trade expansion between China, ASEAN countries and Pakistan.

China-Pakistan bilateral trade has kept growing, the economic and trade cooperation between the two countries has made significant progress, and their mutually beneficial cooperation has expanded and deepened during the past few years.

According to the statistics of China's Ministry of Commerce, between January and June of 2021, China-Pakistan trade volume reached $12.56 billion, a year-on-year growth of 63.0%, among which China's exports to Pakistan accounted for $10.83 billion, an increase of 60.1% from last year; and China's imports from Pakistan reached $1.73 billion, up 83.6% from last year.

With the further development of China-Pakistan all-weather strategic partnership and high-speed advancement of China-Pakistan Economic Corridor, the bilateral trade has achieved fruitful results.

The share of the mutually zerotariff items has gradually risen to 75% from 35% since the China-Pakistan Free Trade Agreement (CPFTA) was signed in 2006.