BEIJING-The customs authorities of Xinjiang, China, and Gilgit Baltistan, Pakistan held an online meeting to discuss and strengthen trade cooperation between the two regions and explore new avenues for economic collaboration.
Hao Weiming, Director General of Urumqi Customs, led the meeting from the Chinese side while Syed Fawad Ali Shah, head of the Customs Administration of the Gilgit Baltistan, represented the Pakistani side. In their opening remarks, they said, China and Pakistan have long enjoyed a close partnership in various sectors, including trade. The customs departments of Xinjiang and Gilgit Baltistan play a crucial role in facilitating smooth cross-border trade between the two countries.
During the meeting, according to China Economic Net, officials from both sides discussed measures to streamline customs procedures, improve border infrastructure, and enhance information sharing. These efforts are aimed at promoting efficient trade facilitation and ensuring the smooth movement of goods across the China-Pakistan border. Chinese side told that in 2022 total value of imports & export from Xingjiang to Pakistan was RMB 2.92 billion, an increase of 248.2 percent year on year while in the first half of this year, the import and export from Xingjiang to Pakistan was RMB 1.90 billion, a year-on-year increase of 247.8 percent.
Syed Fawad Ali Shah, head of the Customs Administration of the Gilgit Baltistan, said that Pakistan wants to further deepen collaboration with China in diverse fields particularly in the field of technology and speedup customs clearness from both sides. He also mentioned that Xingjiang has a unique advantage and a role in the All-Weather strategy cooperative partnership between China and Pakistan, all along the border customs of China and Pakistan, and maintaining communication and close cooperation in promoting the flow of trade at ports, facilitating the entry and exit of personnel and participating in international assistance.
The meeting also provided an opportunity for stakeholders to exchange insights on emerging trends in international trade and explore potential areas for future collaboration. Both parties expressed their commitment to deepening their cooperation in order to maximize the benefits of bilateral trade.
This meeting serves as a testament to the strong ties between China and Pakistan, as well as their shared commitment to fostering economic growth through mutually beneficial trade partnerships. It reinforces the importance of effective customs management in facilitating seamless cross-border transactions and promoting regional economic integration.
largest trading partner of Pakistan, Bangladesh, Maldives
China has become the largest trading partner of South Asian countries such as Pakistan, Bangladesh and the Maldives, China’s Vice Minister of Commerce Li Fei said.
The annual trade volume between China and South Asian countries came in at under $100 billion a decade ago, but the figure neared $200 billion last year, representing an average annual increase of 8.3 per cent, Li told a press conference here.
About the China-South Asia Exposition set to take place from August 16 to 20 in Kunming, southwest China’s Yunnan Province, he said that the expo has become an important platform for economic and trade cooperation between China and South Asian countries. The upcoming expo, the seventh since 2013, will be held fully offline this year, Li said.
Over 60 countries and regions have expressed the intention to participate in the expo so far, and nearly 1,000 enterprises are expected to attend the event. The expo will also host eight forums, including the fourth China-South Asia Cooperation Forum, and three other activities, including a signing ceremony for cooperation projects. This year’s expo will feature the first South Asia tea festival to promote tea products and culture, and a digital platform that enables online conferencing, business discussions and the signature of agreements.