Chinese Assistant Commerce Minister Fu Ziying will arrive at Islamabad on Friday to hold talks with his Pakistani counterpart, exploring new avenues of bilateral co-operation in the economic sector. The two sides will discuss parameters of their economic collaboration, aimed at enhancing bilateral trade during the next five years.
The official sources told newsmen that it was decided during the recent visit of Presidents Pervez to Beijing that the two countries would work out a comprehensive plan, giving clear-cut direction to their efforts of boosting bilateral trade and investment.
The two sides will also consider as how to remove certain difficulties and anomalies, being faced by the business community. A long-term plan will also help to improve the balance of trade position that is currently in favour of China.
It was noted there had been an upward trend in the recent years, correcting the existing trade imbalance. Quoting figures, the sources said that in the first quarter of this year, Pakistan's export to China showed 38 percent growth.
According to the Chinese Custom Authority, the country's export between January and March 2006 was amounted to US 216 million dollars. It was 156 million dollars in the corresponding period last year. Thus, the increase in Pakistan's exports to China in a period of three months was about 60 million dollars.
The leadership of the two countries attached high priority to the economic partnership that could match their excellent political and diplomatic ties, the sources added.
Economic experts hoped that there would be a quantum jump in their bilateral trade after concluding of Free Trade Agreement by the end of this year.