Pakistani Trade's Updates

[ghazi52]

Beijing welcomes Pakistan’s participation in China expo

• Pakistan Ambassador to China Moin ul Haque expresses optimism that event would help country boost its exports

APP
10 Nov 2021

Welcoming Pakistan’s participation in the China International Import Expo (CIIE) for the fourth consecutive year, Chinese foreign ministry spokesperson Wang Wenbin said on Wednesday that Beijing was ready to work with Islamabad to further deepen and expand cooperation with the country.

“We are pleased with the achievements of China-Pakistan economic and trade cooperation at the expo,” Wang Wenbin said during his regular briefing.

He said that the Chinese side was ready to work with Pakistan to further deepen and expand all-round cooperation, including trade, continuously enrich the connotation of China-Pakistan all-weather strategic cooperative partnership, and build a new era of closer China-Pakistan destiny community, bringing greater well-being to the two countries and their peoples.

The spokesperson said that the fruitful results achieved by the expo were strong proof of China’s expanding opening up to the outside world.

Since the launch of the CIIE, it had become an important window for global enterprises to share China’s huge market opportunities, he added.

The 4th China International Import Expo (CIIE), the world’s largest import-themed event, was held from November 5 to 10 in Shanghai, China.

Pakistan Ambassador to China Moin ul Haque attended the opening ceremony and visited Pakistan’s pavilion established to promote the country's products.

He also visited different stalls set up by Pakistani traders and businessmen to showcase their products.

Talking to the media, the ambassador said that “Pakistan had been participating in the event from the beginning. Prime Minister Imran Khan attended the first CIIE in 2018.”

He expressed confidence that this expo would serve as a great opportunity for Pakistan to boost its exports.

The last two expos were held during the pandemic, and many of Pakistan's business community and companies could not participate in-person.

However, they still had access to this expo through online pavilions, he added.

Pakistan is exporting a large number of products to China. Textiles, leather, IT, and food products including rice, mangoes, and vegetables were among the major products sold to China.

More than 3,000 enterprises and corporate giants from 127 countries and regions around the globe brought their competitive products and state-of-the-art technologies to this year’s expo.

 

[ghazi52]

Pakistan set to become top sesame seed exporter to China​

February 11, 2022

SOURCEwww.app.com.pk




BEIJING, Feb.10 (APP)akistan has exported sesame seeds amounting to $120.44 million to China in the year 2021 and hopefully, it is going to become a top exporter in the coming years, said Badar Uz Zaman, Pakistan’s Commercial Counselor in Beijing.

“Normally there is a trend of cultivating traditional crops like wheat and rice in Pakistan but now the Pakistani farmers are also getting knowledge of high-end and high-priced products like sesame seeds. Similarly, they are also learning modern cultivation methods to increase production. So, hopefully Pakistan is going to be the top exporter of sesame seeds to China in coming years,” he told APP.

The counselor said after the signing of the China-Pakistan Free Trade Agreement (CPFTA) Phase-II, the Pakistani exporters had got access to the Chinese market for export of sesame seeds.

“Our exporters are very active. A number of new exporters have been added to the General Administration of Customs of China list that increased the scale, but still we have a big potential and the Pakistani farmers also understand the varieties and the types of the sesame seed that is popular in China,” Badar mentioned.

Pakistan, he said, was collaborating in the agriculture sector with China. “There have been specialists from China who are also guiding the Pakistani farmers on how to grow this crop.

Similarly, many agriculture machinery suppliers are also providing high-end technical machines like sorting machines to the Pakistani processors of the sesame seeds and the packaging has also improved.”

Last year, he said, Pakistan’s sesame seeds exports to China achieved a historical figure of $120.44 million.

China imported 92516.55 tons in the year 2021 and Pakistan was one of the main destinations for sesame seeds imports. In the year 2020, Pakistan exported only 38,000 kilograms of sesame seeds to China, according to the official data from the General Administration of Customs of the People’s Republic of China (GACC).

According to an exporter, the launch of Free Trade Agreement (FTA) in the year 2020 brought an opportunity for both Pakistan and China to include sesame seeds to the list of 313 items and that helped reduce duty from previously 10% to zero.

In the past, Pakistan mainly exported sesame seeds to countries like Vietnam, South Korea, Japan, Europe, and the United States. After the waiving of duty, China was the biggest importer for Pakistan Sesame Seeds in the last two years.

The crop in the year of 2020-2021 was recorded the highest exports in numbers from Pakistan out of which 54% of the total exports were to China.

 

[ghazi52]

,.,
*
This was the trend of growth in terms of imports and exports during last 9 years in Pakistan's economy:

Exports Growth:
PTI: 2018-2022 (4 Years) : 26%
PMLN: 2013-2018 (5 Years): 0.60%

Imports Growth:
PTI: 2018-2022 (4 years): 11%
PMLN: 2013-2018 (5 Years): 37%
Source: Economy of Pakistan
*******

 

[ghazi52]

,.,.,.,.
March 2022 data....

 

[ghazi52]

.,.,.,,..

Trade with Afghanistan via Torkham doubles in recent months​

Ibrahim Shinwari
April 23, 2022

Sources at Torkham border told Dawn that Pak-Afghan trade had doubled during the last three months.

KHYBER: Trade activities have picked up momentum at the Torkham crossing here in the recent months amid a decline in pedestrian movement across the border point due to strict enforcement of the Individual Voluntary Arrangement System.

Sources at Torkham border told Dawn that Pak-Afghan trade had doubled during the last three months and it was likely go up further in the months ahead to the relief of the business community, which had suffered losses since the Taliban’s takeover of Afghanistan last August.

They said the number of vehicles taking Pakistani goods to Afghanistan via Torkham had plummeted to just 80 vehicles soon after Kabul fell to the Taliban.

Exporter-cum-custom clearing agent Mujeebullah Shinwari insisted that Pakistan had set strict conditions for trade with Afghanistan, especially doing it in US dollar only, which badly affected both exports to and imports from Afghanistan.

Exporters say troubled times over for them

He told Dawn that the troubled times were over and the things were back on track for the re-establishment of the businessmen’s links with their contacts in Afghanistan.

Mr Shinwari said most local exporters and importers had seen an improvement in Pak-Afghan trade as the government provided them with much-needed alternate ways and means to overcome the difficulties they had confronted since August last year.

He said the harsh conditions of bank deposits and remittances for importer had been removed, while exporters were allowed to continue buying some major items in Pakistani currency.

The exporter said those steps boosted exports taking the number of loaded vehicles leaving Pakistan for Afghanistan to almost 250 daily and 300 on certain days.
Iblan Ali, another customs clearing agent, said construction material topped the list of exported goods and they were followed by edibles.

He said cement, paint, bathroom accessories, hardware, clothes, shoes and other goods were exported to Afghanistan in large quantities.

The clearing agent also said edible oil and ghee, rice, dairy products and fresh fruits and vegetables had high demand in Afghanistan and were exported in good quantities.

Mussawir Khan, a young coal importer at Torkham, was upbeat about a surge in import of coal and soap stone from Afghanistan in the recent months and said 250-300 trucks or containers carrying the two minerals reached Pakistan daily via Torkham border.

He said while dry fruits were also imported in a small quantity during the current months of the year, Afghan fresh fruits and vegetables would start coming in during the peak summer months to boost bilateral trade.

The importer said the better Pak-Afghan trade had significantly made up for the losses businessmen had suffered during the first three to four months of the Taliban forming government in Kabul.

Customs officials at Torkham confirmed an increase in the country’s business with Afghanistan and said the government was keen to provide further relief to both locals and Afghans.

They said Pakistan’s exports to Central Asian States via Torkham was also in progress under the International Trade Route Agreement and around 100 trucks and containers loaded with Pakistani goods had left for those states in the last 10-12 months.

The officials said the trade with Central Asian States would gain momentum in the summer due to the snowfall-induced closure of some routes in the winter.
They said rice, medicines, sport gears and equipment, and leather products were exported to CARs, while medicines and cotton-related items were imported from there.
Published in Dawn, April 23rd, 2022

 

[ghazi52]

.,.,.

Pakistan, China mull expansion of CPEC to Afghanistan​

https://en.dailypakistan.com.pk/author/web-desk
19 Jul, 2022

ISLAMABAD – Pakistan, and China exchanged views on the possibility of extending the multi-billion dollar China-Pakistan Economic Corridor (CPEC) infrastructure project to neighboring Afghanistan.

Foreign Secretary Sohail Mahmood met Chinese special envoy on Afghanistan Ambassador Yue Xiaoyong in federal capital and mulled the option of expanding the infrastructure projects to war torn country to promote economic development and prosperity.

A statement issued by the foreign office said Islamabad and Beijing discussed the political and security situation in Kabul and other matters of mutual interest.

Pakistani senior diplomat also underscored Islamabad’s commitment to a peaceful, stable, prosperous Afghanistan as he highlighted the provision of humanitarian assistance to a country of nearly 39 people.

The foreign secretary also reiterated the de-freezing of Kabul’s foreign reserves and the facilitation of banking operations to ease the economic hardships of the Afghan people and help build a sustainable economy.

He also underlined the significance for the Afghan side to address the international community’s expectations regarding inclusivity; respect for the rights of all Afghans, including girls’ education; and effective counter-terrorism measures.

The foreign secretary further emphasized the role of platforms such as Troika Plus and Six Neighbouring Countries of Afghanistan in advancing shared goals.

Meanwhile, the Chinese envoy appreciated the constructive role played by Pakistan in the context of Afghanistan. Both sides agreed that only a peaceful, stable and connected Afghanistan could act as a fulcrum for enhanced regional trade and connectivity.

Last year, senior Taliban leader Zabiullah Mujahid revealed that Kabul is interested to join the China-Pakistan Economic Corridor.

 

[ghazi52]

.,.,
Pakistan Pavilion at the Fine Food Trade Fair attracts Australian buyers

A delegation of 14 Pakistani exporters of food products is participating in the Australian premier exhibition, Fine Food Trade Fair being organized at Melbourne Convention and Exhibition Center, Australia from 5th to 8th September 2022. The Pavilion has been organized by the Trade Development Authority of Pakistan, with the local support provided by the Consulate General and Trade Commission of Pakistan, Sydney.

On the opening day of the trade fair, Pakistan Pavilion attracted a good number of Australian buyers and trade visitors. Fine Food Australia is the largest annual trade fair of food products in the Southern hemisphere and is being held after a gap of two years as the last two editions were cancelled due to the Pandemic.

Pakistani exhibitors at the Fine Food are showcasing a wide range of products including basmati rice, dates, pink salt, spices, jams & jellies, bakery products, confectionery, seafood, beverages and ready-to-eat frozen products.

Muhammad Ashraf, Consul General and Trade Commissioner of Pakistan in Sydney, stated that Pakistan’s exports of food products to Australia registered an impressive increase of 32% during the last three years.

The potential for export growth is even higher, as Australia is an import market of US$ 11 billion annually for the food products. The pandemic-related restrictions had suppressed the demand of certain product categories and there is now a pent-up demand for Pakistani products in the Australian and New Zealand market. We have invited a large number of major importers of food products from ethnic and mainstream market segment including importers, distributors, wholesalers and retail chain stores to visit the Pakistan Pavilion and are arranging their B2B meetings with the exhibitors. There is a good foot traffic in the Pakistan Pavilion on the opening day of the trade fair and we expect it to further increase during the next 3 days of the event, he added.

 

[ghazi52]

..,

 

[ghazi52]

.,.,.,


Pakistan's Ministry of Commerce has issued an SRO/notification for B2B Barter Trade with
• Iran
• Afghanistan
• Russia

Items Pakistan will export under Business-to-Business (B2B) Barter Trade Mechanism, 2023.
~ Milk, fruits, nuts, vegetables, rice, confectionery, bakery items, salt, pharmaceutical products, leather, textiles, electrical equipment, & sports goods.

Items to be imported from Russia
~ Petroleum products (including crude oil), LNG, LPG, pulses, wheat, iron, & steel.

Items to be imported from Iran
~ Coal, petroleum crude oil, LNG, LPG, fruits, nuts, & vegetables.

Items to be imported from Afghanistan
~ Fruits & nuts, vegetables, oil seeds, minerals, & metals.

 

[Ali_Baba]

.,.,.,


Pakistan's Ministry of Commerce has issued an SRO/notification for B2B Barter Trade with
• Iran
• Afghanistan
• Russia

Items Pakistan will export under Business-to-Business (B2B) Barter Trade Mechanism, 2023.
~ Milk, fruits, nuts, vegetables, rice, confectionery, bakery items, salt, pharmaceutical products, leather, textiles, electrical equipment, & sports goods.

Items to be imported from Russia
~ Petroleum products (including crude oil), LNG, LPG, pulses, wheat, iron, & steel.

Items to be imported from Iran
~ Coal, petroleum crude oil, LNG, LPG, fruits, nuts, & vegetables.

Items to be imported from Afghanistan
~ Fruits & nuts, vegetables, oil seeds, minerals, & metals.

"Barter Trader" - way to go Pakistan ... lol

 

[ghazi52]

.,.,

China trade facilitated by single window system​

Implementation of the system is estimated to save Pakistan $430 million, according to the World Bank

Zafar Bhutta
June 07, 2023

Pakistan has successfully established electronic connectivity between its single window system and China to exchange trade data, aiming to streamline and facilitate cross-border trade.

Pakistan Single Window (PSW), CEO, Aftab Haider expressed the organisation’s commitment to integrating international exports and developing use cases for data exchange with China.

PSW is actively supporting the government and Pakistan Customs in facilitating electronic data exchange with partner countries, in line with bilateral agreements on international transit and trade, he said. Haider stated their ambitious goal of becoming one of the top ten single window systems worldwide within the next three years.

 

[ghazi52]

.,.,.

Resumption of barter economy, first blow to dollar in Pakistan​

Staff
Jun 7, 2023

ISLAMABAD : Against the backdrop of Pakistan's trade shift towards a barter economy, the lack of dollar or less dependence on the US dollar has established a strong foothold in the country and exposed Pakistan to exchange rate risks, balance of payments crises. And has offered to revive its economy with fewer risks than inflation.

In a strategic move, Pakistan recognized the potential of barter trade agreements with Iran, Afghanistan and Russia and implemented the 'Business to Business Barter Trade Mechanism 2023' on June 2, allowing public and private enterprises in Pakistan to engage in barter. It was facilitated. Trade with all three neighboring countries. This shift is in line with the global trend towards de-dollarization driven by geopolitical and economic factors.

Pakistan's trade with Iran, Afghanistan and Russia has natural potential to grow, but the US-led trade embargo has served to curtail the four-way trade between all the neighboring countries.
The volume of bilateral trade between Pakistan and Iran has reached about 2 billion dollars.

Pakistan's trade volume with Russia is about $400 million. The volume of transit trade between Pakistan and Afghanistan is around one billion dollars. If it is implemented properly, the barter trade between Pakistan, Iran, Russia and Afghanistan will increase manifold.

Meanwhile, before subscribing to barter trade agreements, Pakistan has also started importing various essential commodities from these countries. For example, Pakistan is importing 100 MW of electricity from Iran to meet its energy needs through bilateral cooperation.

Additionally, Pakistan has started importing crude oil, wheat and other commodities from Russia. Instead of paying in dollars, Pakistan will settle these transactions through commodity or commodity barter, which will further strengthen the policy of de-dollarization.

The barter trade mechanism is a blow to Pakistan's limping economy. The country of about 240 million people faces significant challenges related to the balance of payments crisis and rising inflation, which reached an alarming level of about 38 percent in May 2023. According to central bank data, imports last barely a month.

Barter trade offers numerous benefits to Pakistan's economy. By exporting a wide range of goods, including agricultural products, textiles and sports equipment, Pakistan can showcase its diverse offerings in international markets. At the same time, barter trade allows the country to import key commodities such as crude oil, LNG and LPG from its trading partners, meeting its energy needs and reducing dependence on traditional trading methods. she does. Diversifying imports to include industrial machinery, wheat, pulses and other commodities further supports Pakistan's industrial growth and overall economic outlook.

As the world increasingly calls for trade in currencies other than the US dollar, Pakistan's barter trade initiative will pave the way for DD-deilerization in line with a broader global trend. Many countries, including Brazil and Southeast Asian countries, are diversifying their currency holdings and reducing reliance on the greenback due to concerns about its stability and aggressive rate hikes by the US Federal Reserve. China, as the world's second-largest economy, has been at the forefront of the dollarization movement, furthering this shift in global trade dynamics.

Effective implementation of barter trade and demonetisation is key for Pakistan to take advantage of this transformational opportunity. It positions Pakistan as an active player in the developing international financial system, strengthening its economic ties with regional and global partners. Through careful planning and strategic implementation, Pakistan can use the fruits of barter trade and de-dealerization to drive economic growth, enhance regional cooperation and pave the way for a more prosperous future.

The barter trade system provides an opportunity for Pakistan to meet its energy needs. By exporting surplus agricultural products, Pakistan can secure imports of key commodities such as crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG) from its trading partners. This will not only meet Pakistan's energy needs but also reduce its dependence on traditional modes of payment, such as the US dollar, which may be subject to exchange rate risks and fluctuations.

Furthermore, the barter trade system enables Pakistan to diversify its import spectrum and support its industrial development. By importing industrial machinery, wheat, pulses and other commodities, Pakistan can strengthen its manufacturing sector, improve productivity and create new employment opportunities. This, in turn, contributes to overall economic growth and lays the foundation for long-term growth.

This development marks the solid progress Pakistan has made in diversifying its trading partners and reducing reliance on traditional payment methods. Leveraging the potential of barter trade and adapting to the dollar shortage, Pakistan is poised to increase its trade volume, strengthen economic ties and pave the way for sustainable economic growth.

Successful implementation of a barter trade system requires careful planning, effective coordination among relevant stakeholders, and a supportive policy framework.

The Government of Pakistan, in partnership with key industry players, needs to ensure smooth logistics, transparent mechanisms, and effective monitoring to facilitate the smooth operation of the barter trade system. Additionally, strong infrastructure development and streamlined customs procedures can further strengthen the efficiency and effectiveness of the system.

As Pakistan moves forward with its barter trade system, it is an example for other countries looking to diversify their trade relationships and reduce reliance on traditional payment methods.

This bold step towards economic development, driven by mutually beneficial exchanges and strategic partnerships, positions Pakistan as an emerging player in the global trade landscape.

By adopting a barter trade system with Iran, Afghanistan and Russia, Pakistan is laying the foundation for sustainable development, broader economic stability and a prosperous future.

 

[ghazi52]

,.,.,.

UK’s Developing Countries Trading Scheme comes into effect for Pakistan​

• Replaces Generalised Scheme of Preferences (GSP)
• Pakistan retains enhanced preferences status, will continue to benefit from duty-free exports to the UK on 94% of goods exported

BR
June 20, 2023

The United Kingdom’s Developing Countries Trading Scheme (DCTS) has now entered into effect, providing tariff reductions and simpler terms of trade to Pakistan and 64 other countries, stated a press release issued on Tuesday.

“The new scheme has replaced the Generalised Scheme of Preferences (GSP) and will help drive business between the UK and developing countries, reducing the need for aid,” the statement added.

“Under the DCTS, Pakistan has retained its enhanced preferences status and will continue to benefit from duty-free exports to the UK on 94% of goods exported. It will also remove tariffs on over 156 additional products, and simplify some seasonal tariffs.

“Some of the specific goods which benefit most from the DCTS in Pakistan include over £250 million ($320 million) of average annual exports to the UK of bedlinen and almost £100 million of jeans which will each receive a 12% reduction in import duty,” it added.

The DCTS covers 37 countries in Africa, 26 in Asia/Oceania/Middle East and 2 in the Americas. The scheme was announced last year, and legislation has since been finalised to bring it into force.

As per the statement, the total volume of trade (goods and services) between the UK and Pakistan each year currently stands at £4.4 billion ($5.63 billion).

“It is expected that £120 million ($153.6 million) in tariffs will be saved on exports to the UK under the scheme,” read the statement.

Moreover, Pakistan and other DCTS countries will be supported to participate in the international trading system through the UK’s Trade Centre of Excellence, which will provide specialist support to fully participate in the global trading system. This may include support for meeting trade standards and participating in multilateral trade forums.

“This is a major development in the trading relations between the UK and Pakistan,” said Sarah Mooney, UK’s Trade Director for Pakistan and British Deputy High Commissioner, Karachi.

“This important new scheme will further strengthen the economic ties between our two great countries, helping Pakistan to bolster its exports to the UK and harness the power of trade for development,’’ Mooney added.

 

[Pakistan Ka Beta]

https://www.facebook.com/video.php?v=603025905262193

https://www.facebook.com/video.php?v=635186931831781

Pakistan to trade seafood, Agri-products to China through land . . #APPNews #Trade #China #Pakistan #CPEC #Export | Associated Press of Pakistan |

406 views, 6 likes, 0 comments, 4 shares, Facebook Reels from Associated Press of Pakistan: Pakistan to trade seafood, Agri-products to China through land . . #APPNews #Trade #China #Pakistan #CPEC...

www.facebook.com

View this content on Instagram

View this content on Instagram

View this content on Instagram

View this content on Instagram

 

[ghazi52]

.,..,

Pakistan, Iran chalk out five-year plan with $5bn trade target​

Both sides agree to continue engagement on Afghanistan and cooperation to counter Islamophobia; Iran foreign minister meets PM Shehbaz in Islamabad.