China aware of Pak concerns on trade deficit: Envoy

ISLAMABAD –  Chinese Ambassador to Pakistan Yao Jing has said that China Pakistan Economic Corridor (CPEC) is not only limited to Pakistan and China, as both countries have a consensus that the project is meant to benefit the people of whole region.

In an exclusive interview to Waqt TV the other day, Ambassador Yao Jing said that the CPEC is aimed at benefitting the people of the whole region.

Elaborating further, Yao Jing maintained Islamabad and Beijing have reached a consensus that the CPEC is open to the whole world, as a number of countries, including some neighbours, have expressed their desire to join the project.

Pakistan enjoys an important geographical location that provides a link passage from Central Asia to Indian Ocean and connects Western Asia with Eastern Asia, he added. He pointed out that the nature of CPEC projects is to empower this region and the world as well.

The envoy explained that due to the CPEC, Pakistan could play a major role in regional connectivity, promoting regional trade and people to people contacts.

About Pakistan-China mutual trade, Yao Jing informed as far as statistics are concerned the mutual trade between Pakistan and China is valued at $18 billion per annum.

To a question, Jing was of the view that in terms of mutual trade and deficit to Pakistan the Chinese government is well aware to the situation. “I can make it very clear from the Chinese side that we are not in a position to get this kind of surplus from Pakistani markets because of the economic structure and the commodities available in (your) market. We have this kind of limitations of less import from the Pakistan.” Yao Jing said. The Chinese envoy was of the view that Chinese government was well aware to the problem and was working hard on the issue.

He disclosed that by November 2018, the Chinese administration for the first time is holding a major conference on imports and exports, where a large Pakistani delegation is being invited.

The purpose behind inviting a large trade delegation from Pakistan was to promote Pakistani exports in Chinese markets, he added.

The Chinese Ambassador said that a large number of Chinese importers are being sent to Pakistan so that they may search for the exportable commodities to China.

To a question, Yao Jing added that in the next phase of CPEC, Pakistan and China are working to establish the industrial parks and special zones. “These industrial parks and special zones will empower investors and businessmen from Pakistan to raise their production capabilities as well as to increase their exports to Chinese and markets from other countries,” he added.

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