BEIJING: During the initial five months of the current fiscal year (2023-24), Pakistan experienced a notable surge of 39.44% in the export of goods and services to China compared to the corresponding period in the previous year.
Omer Malik, Chairman of King’s Bridge Investments, attributed this significant increase to various factors, including intensified marketing and trade activities between the two nations following the easing of lockdown restrictions.
Malik explained that events like the China International Fair for Trade in Services (CITFIS), the International Textile Exhibition (TEXPO), the Food and Agri Expo, and a healthcare and engineering conference in Lahore provided platforms for Pakistani companies to showcase their products and services alongside the country’s top leaders.
According to Malik, this allowed Pakistan to highlight its potential in terms of productivity, quality, and resources.
Chinese Customs statistics, as reported by China Economic Net (CEN), revealed that sesame seeds were the top import item from Pakistan in both quantity and value. From July to November 2023, over 134 million kilograms of sesame seeds, valued at $235.36 million, were exported to China, marking a remarkable 480% increase compared to the same period the previous year.
Dr. Amjad Magsi, a professor at the University of Punjab, emphasized that Pakistan and China comprehend each other’s potential and strengths, particularly noting Pakistan’s status as the fifth-largest producer of sesame seeds.
Omer Malik highlighted that Chinese companies introduced genetically engineered technologies and seeds to Pakistan, adapting them to the native land. The successful production of sesame seeds and increased yields demonstrated the positive outcomes of incorporating Chinese technology.
Malik expressed optimism that, when used appropriately, Chinese technology could enhance the advantages of sesame seeds and other products, contributing to the overall success of the China-Pakistan Economic Corridor (CPEC) second phase. –APP
