Islamabad: A delegation from China Council for the Promotion of International Trade (CCPIT) formally invited Pakistani trade delegation led by Senior Commerce Minister Mr. Makhdoom Amin Fahim to participate in “2nd West China Imported Commodity Fair (hereinafter referred to as WEST IMPORT)”, during a meeting here today.
This fair will be held in Chengdu, Sichuan on June 15-19, 2012. The President CCPIT, Mr. Li Gang informed meeting that WEST IMPORT is one of the most influential international trading platforms for consumer goods in western China.
The aim of the WEST IMPORT is to build an international marketplace of consumer goods in western region, by displaying the distinctive and premier commodities from overseas countries or regions. Mr. Li also encouraged the participation from members of different chambers of commerce and industry in Pakistan and officials from TDAP to this fair. The meeting also discussed various dimensions to promote trade between China and Pakistan.
Senior Minister thanked Chinese delegation for the invitation and assured full support to CCPIT. He told that the level of understanding, cooperation and trust enjoyed by Pakistan and China at all level of interaction is without any parallel. That why Pak-China relationship is called all weather friendship. Both countries have operational Free Trade Agreements (FTA) in goods and services and there is a tremendous opportunities for further promotion of trade under this FTA, added by minister.
The meeting was informed that both countries have initiated negotiations of Free Trade Commission (FTC). During the 2nd meeting of the FTC was held in November, 2010, Pakistan, inter alia, requested China for enhanced market access on 268 items. The meeting was also informed that both countries have initiated negotiations on the 2nd phase of Pakistan China FTA held in March,2011 in which Pakistan reiterated the request for unilateral concession of Pakistan in the Chinese markets.
Secretary Commerce Mr. Zafar Mahmood informed that Ministry of Commerce has signed a number of MOU’s with CCPIT and is willing to enhance further the trade cooperation between CCPI and commerce division. The Secretary also told that we celebrated last year as “China Focus Year” in which we sent a large numbers of delegations to China. We are also in process of deepening the FTA, said by secretary.
It is to inform that bilateral trade between Pakistan and China increased from US$ 3533 million in 2006-07 to US$ 5789 million in 2010-11. And the government is optimistic that this trade would cross 7 billion US$ mark by the end of the current year.
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