Exports to China jump 39% in 2005:
BEIJING: Pakistan’s exports to China showed an upward trend, registering an increase of about 39.2 per cent last year, the Chinese Custom Authority said.
The exports totalled $832 million during January to December 2005 compared to exports of $594 million in the previous year (January-December 2004). Therefore, the increase in Pakistan’s exports to China in one year amounted to about $238 million.
Custom Authority sources told APP here on Saturday there was a considerable jump in the exports of cotton yarn, cotton fabric, leather, chromium ore, copper and fish.
China calculates export figures on the basis of origin of exported items, including those that come to the mainland through Hong Kong. The Chinese financial calendar runs from January to December.
When asked to comment on future prospects of Pakistan’s trade with China, Commercial Counsellor in Pakistan Embassy, Shahid Mahmood said there was still great room for enhancing exports, particularly of value-added textile products like cotton fabric, manmade fabric, home textile and towel.
The growing Chinese market also provides wide opportunities for Pakistani traders to enhance the export of non-traditional items like sports and engineering goods, handicrafts, marble, onyx, jewellery and agro-based products.
Pakistan’s exports to China are likely to get a further boost, with the reduction of tariff on a number of products under the Early Harvest Programme (EHP) that came into effect from January 1, 2006. The margin of duty reduction by China is around 27 per cent.
Shahid Mahmood hoped the trade volume would increase in the coming months when rice, mango and other agro-based products would be included in the list of exports to China.
There are bright prospects to take Pakistan’s annual export volume to US$ 1 billion by the end of this year.
An official of the Chinese Commerce Ministry suggested maximum number of Pakistani businessmen should visit Beijing to explore new openings in trade.
According to economic experts, there are very favourable indications for the two countries to enhance their overall trade as tariff on most of the items would come to zero by the end of 2008.
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