A study conducted by Small and Medium Enterprises Development Authority (SMEDA) has identified 45 high-potential products to explore the export opportunities under China Pakistan Economic Corridor (CPEC). According to the study, 13 items, out of 45 products, fall in the category of high value exports (HVE), 15 in medium value exports (MVE) and 17 in the low value exports (LVE) category. The 13 products of HVE category include; meat, fish, mangoes, chromium ores and concentrates, medical instruments, marble, footwear, rice, milk and cream, granulated sugar, denim, ethyl alcohol and footballs.
Similarly, 15 products categorized as MVE include maize, milk and cream solids, bananas, leather handbags, plastic/ textile material handbags, polyethylene terephthalate, sweet biscuits, modified polystyrene, safety razor blades, frozen orange juice, natural honey, frozen fish, frozen edible bovine offal, butter milk, butcher knives and hunting knives.
Whereas the list of 17 products categorized as the LVE include; bran, articles of leather, paints and varnishes, articles of stone, folding cartons and boxes, coats and jackets, hydrochloric acid, tools for masons/ watchmakers/ miners, crates and similar articles of plastic, ball point pens, vegetable products, fruit seeds for sowing, articles of wood, clover seeds for sowing, shelled almonds, hide and skin of goats and crabs.
Commenting on the study, SMEDA chief executive officer Sher Ayub Khan said that the given trade potential has been identified by adopting a three-pronged approach, which includes; detailed analysis of Pakistan's trade with China, focus group discussions and stakeholders' input in terms of a short survey.
He hoped that outcome of the study would help business community of Pakistan, especially SMEs to strengthen economic integration with the world's largest trading nation- China. During the past few years, Pakistan's imports from China have increased disproportionately compared to Pakistan's exports to China.
China imported a total of 5,578 types of products from around the world in 2015, he said. Therefore, Pakistan can easily increase its exports to China through mutual understanding and consent, he added. Pakistan's global trade share, under CPEC, will increase to an optimal level. But, we will have to adopt an approach which can help reduce trade deficit, he maintained.
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