KARACHI – Today we are celebrating 70 years of Pak China friendship. We had established diplomatic relations on 21st May 1951 and the journey of friendship never stopped. Pakistan & China entered in to free trade agreement in February 2009 and our bilateral trade which was US$1.3 billion in 2002 and reached US$ 20 billion in 2020. Imports from China stood at US$ 18 billion and exports from Pakistan to China remained US$ 2 billion in 2020. Pakistan China has signed second phase of Pak China FTA allowing 363 items duty items to China from Pakistan which will increase exports from Pakistan to China to bridge huge trade surplus in favor of China.
Pak China Economic Corridor is the hallmark of our economic relationship, wherein China investing US$ 65 billion, for energy US$ 34 billion, infrastructure US$ 11 billion, and Gwadar port projects, which will be game changer in the region. Today Pakistan has entered in the list of countries producing 2500MW nuclear civil power using Chinese nuclear technology in Chashma 1,2,3,4, K2 & K3 projects. Pak China joint venture to produce JF-17 Thunder jet, a substitute of F-16 American jet fighters is a good example of joint venture between two countries. Pakistan & China has announced 9 Special Economic Zones (SEZs) under CEPC to establish new industries and relocation of industries from China.
Pak China friendship is all time tested in recent COVID pandemic, China has donated vaccine for people of Pakistan which has helped Pakistan to contain spread of corona. We should transform our diplomatic relationship to diplomatic relationship to enhance bilateral trade & investment between the two countries.
