April 15, 2007	Sunday	Rabi-ul-Awwal 26, 1428

KARACHI, April 14: Consul General of People’s Republic of China Chen Shanmin has assured to encourage Chinese companies to import more from Pakistan to reduce the trade imbalance, which is presently heavily in favour of China. For achieving this goal, he said visit of trade delegations and holding of fairs in both the countries will be undertaken.

Speaking at a dinner reception organised by Ijara Finacning Inc the newly designate Chinese diplomat said that the trade growth between China and Pakistan increased by a big margin of 30 to 40 per cent per annum. Last year, he said, the volume of two-way trade swelled to $5.247 billion, which was in favour of China.

There were exports to the tune of $4.424 billion against imports of partly amount of $1.007 billion. In order to correct the situation Chen Shanmin listed a number of measures, including encouraging Chinese companies to visit Pakistan, import more and actively participate in Pakistan’s trade fairs.

The Chinese diplomat also asked Pakistani businessmen to visit China and participate in such trade fairs like Canton for exploring Chinese markets. He said that Canton fair is the biggest trade fair held in China twice a year, from April 15 to 30 and from Oct 15 to 30.

Mr Shanmin also suggested that Pakistani business community should organise single country exhibition in China to introduce their products to the Chinese people. He said border trade and tourism will also be promoted to match the strong bondages being enjoyed by both the countries in political and diplomatic relations.

He said globally it is being seen that China hold bright prospects in future development and many nations are interested in entering Chinese market. Many nations are in favour of strengthening their economic relations with China but some are suspicious as they only want to enjoy the profit from cooperation with China and are equally afraid of its development and economic strength.

However, the Chinese diplomat cautioned that peaceful development of China will be more beneficial for the world as it will contribute towards security and stability. China accounts for one fifth of world population with 1.3 billion people bordering 14 neighbouring countries.

Ever since joining the WTO in 2001, China imported foreign goods worth $500 billion every year, thereby creating 10 million job opportunities for the countries and regions concerned.

Chen Shanmin said that in 2010, China’s import will exceed $1,000 billion. He said his country provides cheap and good quality products, which benefit consumers of importing countries.

In his address of welcome Farrukh Ansari, the chief executive officer of Ijara Financing spoke about strong and time-tested bondage between Pakistan and China. He also briefly highlighted the role being played by his institution in promoting trade and industry by arranging funds for the corporate and private sector entities.

Federal Tax Ombudsman Justice (retd) Munir A Sheikh also addressed the select gathering which was also attended by diplomats from European and Middle Eastern countries.