Pakistan’s exports to China have reached $67 million in the first two months of 2022, recording an annual increase of 23%. Both the economies are significantly integrated, enhancing Pakistan’s export capacity. The progress on the construction of the China-Pakistan Economic Corridor (CPEC) and Special Economic Zones (SEZs) in Pakistan has promoted Chinese enterprises’ investment. On account of increasing investment from China, Pakistan’s export potential has increased substantially.
Given the importance of rapid and stable development in the export sector, Pakistan is committed to developing an export-oriented economy. Growing export sales provides revenues and profit for business activities, giving rise to capital investment spending. Increasing investment promotes a country’s productive capacity, promoting export potential.
Currently, Pakistan has signed a Memorandum of Understanding (MoU) with the Chinese companies for investment in Gwadar. With the idea of enhancing business-to-business cooperation between Pakistan and China, a Chinese entrepreneur will make an initial investment of $50 million in the industrial zone of Gwadar to set up an end-to-end supply chain facility for the export of seafood to China. It is a high-tech processing facility with a technology transfer large-scale production unit with infrastructure upgrades for high-quality processing, modern technologies, and robust cold chain logistics.
The project will be completed in two phases. The first phase includes the approval of 79 species of fish exported from Pakistan to China and will create more than 100 jobs in Pakistan’s fishing, power, and logistics sectors. In the second phase, the project will first expand from the fishing sector to livestock, commencing with exporting beef and goats to China through cold chain transport.
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