Page 8 - October-November-2018

08 09

News

Advisor to the Prime Minister on Commerce, Pakistan is seeking concessions equal to
Textile, Industry and Investment, Mr Abdul Razaq Asian countries.
Dawood said that PTI government has made the
Chinese government realize that the trade gap He also informed that a large buying mission
between Pakistan and China needs to be from China is arriving in October. The adviser
narrowed down and a good trade balance needs assured that no negotiations will take place
to be established. Pakistan’s imports from China without consultation with trade and industry. Mr
are presently at $15.38 billion and exports at Razak said that a delegation headed by him will
$1.5bn only.
leave for China in November with the aim of
China to Mr Abdul Razaq Dawood commented, “We have luring Chinese investors.

Mr Razak highlighted that Pakistan’s tariff policy
already discussed the issue of trade gap/ trade
narrow down imbalance with the Chinese Foreign Minister needs to be rationalized and that the Chinese
during his recent visit to Islamabad and the
foreign minister has assured to provide special
corridor and space to Pakistan in bilateral trade
Chinese Ambassador to Pakistan and we will
which in the past has not been fully explored.
seek concessional tariff on 330 items.”
the trade gap by PM’s Advisor to the Prime Minister on Commerce Declared by the representative of the federation,
Mr Zhang Yang, at a news conference in
assured the business community that he would
Hyderabad Chamber of Commerce and Industry
not negotiate anything with China about trade
increased and investment without maximum possible (HCCI) that Chinese industrialists from the
Chongqing Federation of Industry and
consultation with the business community of the
Commerce are going to invest $400 million in
country through their representative trade bodies.
For this purpose, he would soon hold a detailed
several industrial and trade projects in the Sindh.
buying from meeting with the representatives of value-added A memorandum of understanding has also been
textile sector here to get their feedback /
signed between the office bearers of the HCCI in
recommendation before his planned visit to
China and the federation.
China on November 4, 2018– leading an
Pakistan important Pakistan government team. According to Mr Zhang Yang the investment
would be made in the form of steel, textile and
clothing products, real estate, tourism,
Talking to textile industry leaders and exporters at
agriculture, education and training, municipal as
PHMA House, the adviser said production cannot
be increased without introducing new cotton well as solid waste disposal sectors. The Chinese
official further added that the agreement is a part
seeds. Also, the ginning units require latest of CPEC, the China-Pakistan Economic Corridor.
technology for contamination free cotton.
Earlier, the top officials and industrialists from
Furthermore, the adviser also informed the textile Pakistan, China, Egypt and Europe gathered in
leaders that the number of preferential tariff lines Cairo to attend the CPEC and Belt and Road
with China has now been increased from 57 to initiative summit. The Pakistani delegation is
313 and discussions were under way for revising going to meet their counterparts to encourage
the Free Trade Agreement (FTA) with China and trade relations between Pakistan and Egypt.

October/November 2018