Western China to enhance trade with Pakistan
BEIJING (June 11 2005): China's western region would enhance its business partnership with Pakistan, said Xinjiang Uygur Autonomous Region Vice Chairman Zhang Zhou. "We hope Pakistani entrepreneurs will actively participate in the international fair, scheduled to take place in Urumqi, capital of Xinjiang, in the first week of September, he said here in an interview with newsmen.
The fair is aimed at giving boost to bilateral trade with Pakistan and its other bordering countries. It will also help the participating countries to develop their economic interaction with the Central Asian States and the Middle East.
The fair would feature a forum on middle and western Asian economic co-operation to promote regional co-operation, he said.
By May 30, about half of the booths at the fair were booked, including 100-plus by overseas businessmen from countries and regions like Russia, Kazakhstan and Pakistan, and 400-plus by domestic businessmen from 16 provinces, regions and municipalities.
The previous 13 trade fairs in Xinjiang have attracted businessmen from about 70 countries and regions and about 10,000-plus domestic businessmen, and have finished 20.7 billion dollars of foreign trade and 233.7 billion yuan (28.16 billion dollars) of domestic trade, according to the regional government.
Famous for containing the historical Silk Road, Xinjiang is adjacent on eight countries and has opened 17 ports, becoming an important portal for China to connect with middle and western Asia.
Meanwhile, Kashi, a border city in south-western will host a four-day export commodity fair in Karachi on June 24.
The fair is being arranged by Xinjiang regional bureau of foreign trade, which is aimed at encouraging bilateral trade and exploring new avenues of business co-operation with South and Central Asia through Pakistan. More than 1,000 Chinese and overseas businesses are expected to attend the fair.
According to the official sources, the fair is a part of the ongoing efforts to further strengthen Sino-Pak economic co-operation. It would provide an opportunity to undertake joint ventures. Chinese side is also prepared to set up factories in Pakistan in the areas of common interest.
About the future bilateral trade, they said Xinjiang region could serve as hub for economic activities. They proposed that Pakistan's major prominent companies should establish their representative offices in the western region, exploring new avenues of bilateral co-operation.
Currently, Pakistan's trade with Xinjiang is being carried out at low-business level. Moreover, a huge quantity of Chinese goods travels to Pakistan through illegal means.
"There is need to promote bilateral trade through legal means with the participation of major business companies," the sources added.
Recently, the two countries have agreed to establish a joint frontier free trade zone to develop mutually beneficial co-operative partnership. As per the initial plan, the zone will be covering 10,000 square meters and will include 100 stalls, 50 each for Pakistan and China. It will be located at Khunjirab dry port within Tashikurgan County.
Copyright Associated Press of Pakistan, 2005