BEIJING: Pakistan’s Ambassador to China Moin-ul-Haque has said that 2021 Online (China) Eurasia Commodity and Trade Expo would play a positive role in deepening Pakistan-China cooperation and trade and inject new impetus into Pakistan’s cooperation with Xinjiang, China.

He made these remarks, while addressing a seminar titled “Cloud Dialogue for Guest of Honour on Economic and Trade Projects” under EACT Expo 2021.

Co-hosted by the Secretariat of China-Eurasia Expo and Trade Development Bureau, Ministry of Commerce of China, 2021 Online (China) Eurasia Commodity and Trade Expo kicked off in Urumqi on August 25, with Pakistan as one of guests of honour, CEN reported.

At the opening ceremony, Badar-uz-Zaman, commercial counsellor of the Embassy of Pakistan in Beijing, said that the Xinjiang Uygur Autonomous Region of China plays an important role in Pakistan-China border trade.

There are more business opportunities to be spotted, besides mango and citrus, he said.

“We have got a road network between Xinjiang and the northern parts of Pakistan. Besides, on both sides of the border we have set up bonded warehouses, which could benefit exporters and importers,” Badar said, adding that the border trade between Pakistan and China through the Khunjerab Pass had increased after the signing of the China-Pakistan Free Trade Agreement (CPFTA) on November 24, 2006, which came into effect in July 2007.

According to the State Bank of Pakistan (SBP), a turnaround was witnessed in the bilateral trade when both countries signed CPFTA, as more business opportunities and convenience have been brought to enterprises and more benefits have been brought to consumers.

“One of the fastest increasing sectors we have seen is seafood,” Badar said. In addition to seafood, Pakistan is also experiencing a strong demand for minerals and metals from the Chinese market, he added.

Zaman said that there are numerous opportunities available and he welcomes all the investors, traders and businessmen to spot opportunities at the expo.

The expo is scheduled from August 25, 2021 to September 24, 2022 under the theme of “Building Silk Road trade platform and promoting win-win economic cooperation”.