Wednesday, February 21, 2024

The bilateral trade between China and Pakistan was valued at $17.49 billion

Within eight years, Pakistan was able to overcome India in its trade with China, even though it was a one-fifth of India’s trade in 2020, Pakistan’s diplomat announced at an event in Beijing on Thursday to the Global Times.

Bilateral trade between China and Pakistan reached $17.49 billion in 2020, whereas it amounted to $77.7 billion between China and India.

“India has a population between five and six times that of Pakistan,” Badar U Zaman, Commercial Counselor for the Pakistan Embassy in Beijing, the 2021 Chinese-Pakistan Trade Forum told the World Times, “that it will take eight to ten years for India to overcome them.

While Zaman has not provided any information to back his estimates, the analysts have suggested that economic stimulus might be provided by a connection between the two countries, which was iron-clad, and the significant progress already made in building a Multi-millar CPEC project.

A Chinese scientist examining ties between China and Pakistan pointed out that Pakistan is facing hurdles in achieving this ambitious objective for trade. But a scenario like this isn’t completely inconceivable.

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