The year 2021 marks the 70th anniversary of the formal establishment of diplomatic ties between China and Pakistan. It is also a new turning point in the development of bilateral trade. Recently hosted by Pakistan's embassy in Beijing, Beijing municipal ccpit exchange conference of 2021 China - Pakistan trade, Pakistan embassy commercial counsellor sparda, wu zaman said, in recent years, bilateral trade maintained sound momentum of growth, China's products in line with the Pakistan People's Daily needs, technology and equipment to meet the need of construction of Pakistan. China's diversified consumer demand and superior production capacity have provided a vast market for Pakistan's products, as well as new development opportunities and huge market space for other countries in the world.

According to Pakistani officials, according to data released in the first quarter of 2021, Pakistan trade exports to China than the same period last year increased by nearly 70%, to $888 million, if according to the Pakistan's situation, exports to China in the first quarter of Pakistan's exports to China is expected to exceed $3 billion this year, this is a tremendous progress in Pakistan's exports to China.

"Currently Pakistan's export potential is being gradually unleashed." Badar Ul Zaman said Pakistan's resources are still being developed, including copper, silver, lead and zinc, which have huge potential to be tapped.

According to relevant statistics, China has been Pakistan's largest trading partner for six consecutive years since the launch of china-Pakistan Economic Corridor cooperation. Even during the epidemic period, china-Pakistan trade reached 17.49 billion US dollars in 2020 (about 113.3 billion yuan). China has been the largest source of investment in Pakistan for seven consecutive years, and the China-Pakistan Economic Corridor has created 75,000 jobs for Pakistan, with more than one million indirect jobs.

As a flagship project of china-Pakistan cooperation under the Belt and Road Initiative, the CHINA-Pakistan Economic Corridor (CPEC) has brought tangible improvements to the daily lives of Pakistani people. "With the help of CPEC, Pakistan's infrastructure such as transport and communication has been upgraded, the local power shortage has been solved and the Gwadar port has been developed and utilized. "With economic growth comes a more open attitude and more opportunities, from which we hope to benefit and continue to advance the high-quality development of cPEC." Asim Bajwa, chairman of Pakistan Pakistan Economic Corridor (CPEC) Bureau, said China is a role model for economic development in the world today, and many countries and regions are learning from China's growth model. China's successful control of COVID-19 has demonstrated its strong economic strength.

"In the post-epidemic period, China and Pakistan should work together for two-way investment and economic and trade recovery. We very much welcome Chinese investors and Chinese products to enter the Pakistani market. Pakistan has a friendly investment environment where foreign investors are allowed to own 100% of the equity and are treated equally with local investors. Products made in Pakistan can not only be sold locally, but also exported to the surrounding region and eu countries." Ahmad Fazinq, deputy director of the Pakistani Embassy in China, said that after the second phase of the fta takes effect, Pakistan will be able to export more than 1,000 kinds of products to China with zero tariff. The new FTA will benefit The export of Pakistani agricultural products, leather, confectionery and snacks to China. At the same time, the government has issued a series of incentives to boost exports, including subsidies and higher loan limits for exporters.

Zhou Xiaoyan, vice president of China Council for The Promotion of International Investment, said China and Pakistan have complementary advantages in economic and trade cooperation and Pakistan is an important partner of China in Asia. The industries of China and Pakistan should take the opportunity of the 70th anniversary of the establishment of diplomatic ties, take the growth of two-way trade as the lead, and continuously expand mutually beneficial trade and investment cooperation.

"We hope that Chinese and Pakistani enterprises will actively take advantage of the benefits and dividends of the fta, expand investment cooperation and trade exchanges, and push bilateral economic and trade cooperation to a new level." According to Zhou xiaoyan, Pakistani enterprises can promote Chinese consumers' understanding and recognition of Pakistan's various products through cross-border e-commerce, offline trade display experience and online live streaming, and expand the space for trade.

We learned that in May this year, China Investment Promotion Committee and Pakistan Investment Commission jointly held an investment promotion event called "A series of B2B Online conferences on China-Pakistan Economic Corridor Industrial Investment and Cooperation in textile industry", which provided diversified business opportunities for Chinese and Pakistani industries and enterprises.