KARACHI: Pakistani Minister of Commerce Dr. Gohar Ejaz is leading a high-level delegation to China to discuss economic ties, with a focus on improving the balance of trade between the two nations.
China is a major ally and investor, particularly in the China Pakistan Economic Corridor, a flagship project under China’s Belt and Road Initiative with more than $65 billion pledged for road, rail, agricultural and other infrastructure developments.
China is Pakistan’s largest trading partner and biggest source of foreign direct investment. In 2022, Pakistan’s exports to China were recorded at US$2.53 billion while China’s exports to Pakistan stood at $23.09 billion, according to the United Nations COMTRADE database.
“The delegation, led by Minister Dr. Gohar Ejaz, is engaged in discussions with Chinese counterparts aimed at improving the Sino-Pak trade relations and identifying avenues for collaborative ventures,” the minister’s office said in a statement.
“With a focus on improving the trade balance with China as part of the Minister’s vision to upon the momentum generated during Prime Minister [Anwaar-ul-Haq] Kakar’s visit, the delegation is actively exploring opportunities to enhance economic cooperation.”
On Monday, Ejaz met with Zhang Xinmin, Chairman of the China Chamber of Commerce for Import and Export of Textiles (CCCT), “to bolster textile trade between Pakistan and China, with a particular emphasis on addressing trade imbalances.”
Discussions included strategies for accessing new markets in China to promote Pakistani exports and facilitate smoother trade transactions.
The Pakistani minister also met with Luan Richeng, President of the COFCO Group, a key player in China’s food processing sector.
“This meeting forms a pivotal part of Pakistan’s strategy to augment non-textile exports, leveraging the strength of COFCO Group’s position as China’s largest food processor, manufacturer, and trader,” Pakistan’s commerce ministry said.
The delegation also held a series of business-to-business (B2B) meetings, providing a platform for Pakistani and Chinese businessmen to engage in discussions to fortify trade relations.