Pakistan to be special partner country at China-Asean expo
BEIJING: Pakistan, like previous year, will be the special partner country at the upcoming 18th China-Asean Expo (CAEXPO) to be held in Nanning, Guangxi Zhuang autonomous of China from September 10 to 13.
The Pakistan Pavilion will be established to display major export and cultural items, as well as print and audio-visual material on tourist attractions of the country.
In addition to Pakistan Pavilion, around 25 stalls to exhibit various Pakistani products will be set up at the exhibition centre of the expo, Muhammad Irfan, trade and investment counsellor of the Pakistan Consulate in Guangzhou told APP.
The Pakistani entrepreneurs will showcase jewellery, precious stones, marble, carpets, furniture, handicrafts, and sports goods during the exhibition.
A Trade and Investment Conference would also be organised on the sidelines of the expo as part of the celebrations of 70 years of the establishment of diplomatic relations between China and Pakistan, he added.
Pakistan’s Ambassador to China Moin-ul-Haque is likely to address the Chinese investors and businessmen at the conference and brief them about the investment-friendly environment offered by the government of Pakistan.
According to senior Chinese government officials, the event would facilitate China and the 10-member Association of Southeast Asian Nations (Asean) to further broaden trade relations under the regional free trade agreements and support the recovery of the global economy.
The exhibitors and purchasing agents from Japan, Republic of Korea, New Zealand, and other signatory states of the Regional Comprehensive Economic Partnership (RCEP) have been invited to participate in the expo this year.
This should help deepen the cooperation between the two sides, said Liu Hongwu, vice-chairman of Guangxi.
The exhibition will hold 27 high-level fora, covering sectors from green development to digital economy.
With a total floor area of 124,000 square-metres, the expo will have a dedicated RCEP display zone and organise training workshops themed on the agreement details, to facilitate early implementation of the Regional Comprehensive Economic Partnership.
To deepen economic cooperation between China and the Asean, China will promote regional economic integration and the implementation of the RCEP agreement, as well as further regional interconnection of RCEP members in the next stage, Ren Hongbin, assistant commerce minister, said.
Benefiting from the complementary goods trade structure, easing of the pandemic and vaccinations in the Asean region, China’s trade with it soared 38.2 per cent year-on-year to $410.76 billion in the first half of this year, according to the Ministry of Commerce.
China mainly ships medical products, construction machinery and materials, manufacturing equipment, steel, electronics and household appliances to the Asean markets.
In addition to minerals, precious and base metals, and agricultural products, the bloc’s exports to China include natural rubber, timber and materials of textile and garment goods.
“The close business ties and FTAs, including Asean-China Free Trade Agreement, will facilitate the two sides to better integrate resources in the coming years, and build a high-quality service platform to restore both regional and global economic growth,” said Zhang Shaogang, vice-chairman of the Beijing-based China Council for the Promotion of International Trade.
Owing to the pandemic prevention and control requirements, which are similar to those seen last year, the expo this year will combine a physical trade show with an online version.
Its online platform will be running all year-round, providing companies with the business promotion services on a regular basis.
Changes in income tax laws to adversely affect banking profitability
KARACHI: The amended income tax regime will have a negative impact on...
NCCPL to collect July CGT on September 24
KARACHI: The National Clearing Company of Pakistan Limited (NCCPL) on Thursday said...
Rupee recovers 94 paisas against dollar
KARACHI: The rupee made a recovery of 94 paisas against the dollar...
Citi Pharma to set up subsidiary in Uzbekistan
KARACHI: Citi Pharma Limited has signed an agreement with Uzbekistan’s Namangan Region...
Taliban seizes $12 million from ex-officials as cash crunch hits Afghanistan
KABUL: Afghanistan's central bank has said that the Taliban had seized more...