Pakistan eyes stronger market presence in China through CIIE

Web DeskWeb Editor

03rd Jul, 2021. 06:17 pm
Pakistan eyes stronger market

BEIJING: Pakistan attaches great importance to the China International Import Expo (CIIE) and hopes to gain deeper insights into the Chinese market and business patterns through the event, a Pakistani diplomat said.

In an interview, Pakistan’s Consul-General in Shanghai Hussain Haider said that several companies from Pakistan have attended the last three editions of the CIIE, and his country is currently preparing for the fourth expo, which is scheduled to take place in November this year.

He said the experiences Pakistani companies have gained from the CIIE will lead to wide-ranging benefits, China Daily reported on Saturday.

At a recent Pakistani culture fair held in Shanghai, which features various local specialty goods, Haider stressed that China is Pakistan’s largest trading partner and second largest export destination.

The ministries of commerce in both the countries have made great efforts to enhance bilateral trade since the launch of the China-Pakistan Economic Corridor.

Aqeel Chaudhry, founder and CEO of a renowned jewellery brand Winza, said that the tax exemption agreement has significantly boosted the business of Pakistani companies.

Winza was among the Pakistani exhibitors that attended the third CIIE, during which it displayed 36 precious gems and secured orders worth around 5 million yuan ($760,000).

Many famous Shanghai companies also expressed their intention to cooperate with Winza, which has to-date signed agreements with three of them, Chaudhry said.

After the expo, Winza launched its first flagship store at the Shanghai New World Daimaru Department Store. The company’s sales are expected to achieve a 35 per cent to 40 per cent increase this year, compared with the pre-pandemic sales volume in 2019.

“The sales growth is related to China’s overall increase in the consumption economy and the consumption market. The jewellery consumption market saw a 40 per cent growth during the first quarter of 2021, compared with the same period in 2019. China is the only jewellery market in the world to have such an achievement,” Chaudhry added.

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