China International Import Expo (CIIE) plays an essential role in boosting Pakistan's export to China and enhancing Pakistan's economy, said Pakistan's ambassador to China, Moin ul Haque. "Due to pandemic prevention and control measures, physical participation is not possible but we will set up an online national pavilion to exhibit our products", Moin ul Haque told China Economic Net (CEN). He further said that last year, Pakistan's export to China touched a record level of US$ 3.6 billion despite COVID-19. "The expo is very important for us because China is our largest trading partner and we are taking new measures to expand our export to China, so in this respect, CIIE becomes very important for us", he stated.

It is also worth mentioning that more than 300 exhibitors have launched an online display this year including Pakistani exhibitors. Shaikh Muhammad Shariq, Chief Representative of the National Bank of Pakistan in China told CEN that China International Import Expo (CIIE) provides an excellent platform for Pakistani exporters to enter the second-largest economy in the world. "It will not only help improve the economic and business environment in Pakistan but also help the country improve its balance of trade with China. Since China is opening up to the outside world and the main theme of the expo is shared prosperity and development, therefore, it offers a great opportunity for the business community to enhance their markets in China", he stated.

He further said that the financial sector of both countries has to play an important role to provide more and faster channels for trade settlement to facilitate the business communities from both countries, adding that settlement channels like CIPS should be enhanced for quick and efficient trade settlement. According to sources,  six local-based Pakistani companies are participating this year in which gemstones, marble, and carpets are the main Pakistani products that would be exhibited in the expo. It is to be noted that this year the fifth China International Import Expo (CIIE) is scheduled in Shanghai from November 5 to 10.  This is one of the largest exhibitions in China that provides a platform for local and international enterprises to display their products and enhance trade with China and globally.

Credit: Independent News Pakistan-INP