Pakistan has pledged to increase bilateral trade with China by enhancing investment opportunities for Chinese investors and providing access to the Chinses market for Pakistani exporters, WealthPK reports.

Minister of State for Foreign Affairs Hina Rabbani Khar told Senate on Tuesday that China is Pakistan’s largest trading partner. She expressed the resolve to continue broadening economic cooperation by increasing investments from China, enhancing cooperation in the agriculture sector and expanding market access for Pakistani exports.

She said that bilateral trade between Pakistan and China in 2021 stood at $27.8 billion, which needed to be further enhanced through mutual cooperation.

In January 2020, the second phase of the China-Pakistan Free Trade Agreement (CPFTA) was operationalised, which liberalised trade and enhanced its volume between the two countries. China also remains Pakistan’s largest source of Foreign Direct Investment (FDI).

The minister said that apart from economic and strategic relations, Pakistan and China also enjoyed close cooperation in the health sector. There has been an exchange of high-level visits between the two countries despite constraints posed by the Covid-19 pandemic.

China supported Pakistan in fighting against Covid-19 by providing medical relief goods and strengthening its response capacity.

Hina Rabbani Khar said that Pakistan’s foreign policy towards China was gaining momentum through sustained engagements between the leadership, the extension of diplomatic support at multilateral fora and careful nurturing of all facets of bilateral relations.

“As close friends and partners, both countries have multi-faceted bilateral cooperation in diverse fields such as economic, politics, defence and culture,” she said.

The minister said both countries have a close collaboration in defence and security domain and frequently hold meetings at the highest level. She added that a comprehensive public diplomacy strategy includes the promotion of cultural exchanges, people-to-people relations, tourism programmes and other outreach initiatives.

Credit : Independent News Pakistan-WealthPk