BEIJING, June 21 (INP): Pakistan’s export to China crossed $1.605 billion in the first five months of 2022, up 5.42 percent year on year, shows the official data from the General Administration of Customs of the People’s Republic of China (GACC).
Badar expressed that the 2nd phase of the China-Pakistan Free Trade Agreement provides zero-tariff market access for Pakistan’s 313 major export commodities, and has greatly promoted Pakistan’s manufacturing industry to expand production and exports.
“The China-Pakistan free trade agreements would create more space for Pak-China service trade. The bilateral trade will cross $50 billion within next five years. This year bilateral trade would cross $32 billion”, he said.
The total volume of trade between China and Pakistan has amounted to $12.06 billion, up nearly 19 percent compared with 2021 which was $10.14 billion due to COVID-19.