Karachi, In a pivotal meeting, the Commerce and Industries Minister of Pakistan, Dr. Gohar Ejaz, and the newly appointed Economic Counsellor of China to Pakistan, Mr. Yang Guangyuan, laid the groundwork for significantly strengthening economic ties between their countries. This encounter, marked by mutual expressions of commitment and ambitious goals, sets a new course for bilateral trade relations, with a focus on expanding Pakistan’s exports to China.

According to Ministry of Information and Broadcasting, the meeting was a follow-up to Dr. Ejaz’s recent successful visits to China, which are part of the intensified trade interactions between the two neighbors. Mr. Guangyuan congratulated Dr. Ejaz on the positive outcomes of his visits, highlighting the evolving economic cooperation. Dr. Ejaz shared his experiences in China, emphasizing his mission to explore new market segments for Pakistani exports and to learn from China’s remarkable progress.

The centerpiece of the discussion was Dr. Ejaz’s ambitious five-year vision to increase Pakistan’s exports to China, aiming for a target of $25 billion. This vision was well-received by Mr. Guangyuan, who affirmed China’s commitment to enhancing bilateral trade and economic cooperation. He outlined China’s broader goal of expanding its global trade volume and expressed eagerness to include Pakistan in this growth trajectory.

Dr. Ejaz emphasized Pakistan’s strategy of “trade not aid,” resonating with China’s economic partnership approach. The two sides also explored potential collaborations in establishing export processing zones in Pakistan, with China expressing interest in relocating industries to leverage Pakistan’s strategic location and cost-effective labor force for reaching African and Central Asian markets.

The Commerce Minister highlighted Pakistan’s position as a gateway to the Central Asian Republics, offering a strategic and economical route for Chinese trade expansion. Mr. Guangyuan showed keen interest in this proposition and extended an invitation to Dr. Ejaz to visit China’s Guangzhou and Shandong provinces next month to further solidify trade ties.

Both leaders expressed optimism about the future of economic cooperation and committed to working closely to achieve the shared goal of increased trade and prosperity between Pakistan and China.