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[8] [10] Phase two of the CPFTA seeks to address these criticisms, enhance the trade relationship between the two nations, and further liberalise trade. [13] China and Pakistan aim to increase bilateral trade to US$15–20 billion by the completion of the second phase and eliminate tariffs on 75% of product lines. [8] [13]
Pakistan has been one of China's major trade partners. [71] According to China's custom statistics the bilateral trade volume for the calendar year 2017 crossed the US$20 billion mark for the first time. In 2017 China's exports to Pakistan grew by 5.9% to reach $18.25 billion whereas Pakistan's exports to China fell by 4.1% to $1.83 billion ...
Chinese officials blamed the West for Pakistan’s economic crisis, [87] and state media continues to talk about the strengths of the China-Pakistan Economic Corridor. [88] “Only China has given a full plan. From this perspective, it is the Western world that ‘abandoned’ Pakistan, and China is the one that extended a helping hand.
China is willing to strengthen co-operation and promote solidarity with Pakistan but has urged it to guarantee the safety of Chinese organisations and personnel working there, China's foreign ...
China has become the world's second largest economy by GDP (Nominal) and largest by GDP (PPP). 'China developed a network of economic relations with both industrial economies and those constituting the semi-periphery and periphery of the world system.' [1] Due to the rapid growth of China's economy, the nation has developed many trading partners throughout the world.
The third meeting of Pakistan-China JCM was held on 21 June 2024 in Islamabad. [6] [7] The meeting was co-chaired by Senator Ishaq Dar, the Foreign Minister, and Liu Jianchao, the head of the International Department of the Chinese Communist Party. Delegates from all the prominent political parties in Pakistan were present at the meeting. [2]
Pakistan has bilateral and multilateral trade agreements with many nations and international organizations. It is a member of the World Trade Organization, part of the South Asian Free Trade Area agreement and the China–Pakistan Free Trade Agreement. Fluctuating world demand for its exports, domestic political uncertainty, and the impact of ...
China and Pakistan already conduct trade via the Karakoram Highway. The CPEC projects involve reconstruction and upgrades to National Highway 35 (N-35), which forms the Pakistani section of the Karakoram Highway (KKH). The KKH spans the 887 kilometers between the China-Pakistan border and the town of Burhan, near Hasan Abdal.