Pakistan-China economic relations deepen with focus on CPEC 2.0

Chinese Consul General in Lahore Sun Yan has said that Pakistan and China are jointly moving towards an upgraded phase of cooperation under CPEC 2.0, reported 24News HD Channel on Wednesday.

He expressed these views during his visit to Lahore Chamber of Commerce and Industry (LCCI) at the concluding ceremony of a three-month Chinese language course organized for members of the business community.

Addressing the participants, LCCI President Faheemur Rehman Saigol said that economic and trade relations between Pakistan and China entered a new era as the Special Investment Facilitation Council (SIFC) playing vital role in economic and industrial progress.

Faheem Ur Rehman Saigol said that the Pakistan-China friendship is time-tested and has always stood strong in every challenging situation, rooted in mutual trust, sincerity, and unwavering support.

He stated that the China-Pakistan Economic Corridor is a landmark initiative that has transformed bilateral relations into a comprehensive strategic partnership encompassing trade, investment, infrastructure, technology, and people-to-people linkages.

He highlighted that China has consistently remained Pakistan’s largest trading partner, reflecting the depth of economic engagement between the two countries.

However, he pointed out that there is a significant imbalance in bilateral trade, with Pakistan’s exports to China recorded at around 2.5 billion dollars compared to imports of approximately 16.3 billion dollars.

He stressed the need for corrective measures and expressed hope that, with the facilitation of the Chinese Consulate, Pakistani exporters would be able to effectively utilize the China-Pakistan Free Trade Agreement to expand their footprint in the Chinese market.