China-Pakistan Collaboration Boosted with New Projects

During the 15th Kashgar-Central and South Asia Commodity Fair in Kashgar, Xinjiang Uygur autonomous region, a Pakistan-focused session saw the signing of twelve collaborative ventures between China and Pakistan, totaling RMB 235 million in value.

Under the theme of “Sharing Development Opportunities, Building CPEC Together,” the event placed emphasis on crucial areas such as trade, logistics, agriculture, tourism, renewable energy sources, and information technology. It served as a valuable and effective venue for cooperation, encouraging the execution and tangible outcomes of an enhanced version of the China-Pakistan Economic Corridor (CPEC).

The organizers noted a marked increase in economic and trade interactions between Kashgar and Pakistan, accompanied by a steady rise in trade volume. Notably, in the first six months of this year, trade between Kashgar and Pakistan witnessed a substantial 74 percent increase compared to the same period last year.

Over 200 foreign trade enterprises based in Kashgar are actively involved in the Pakistani market, while 56 Pakistani companies have established operations in Kashgar, achieving success in sectors like international logistics, import-export activities, and jewelry manufacturing.

Nadeem Alam, President of the Hunza Chamber of Commerce and Industry in Gilgit-Baltistan, Pakistan, stated that CPEC has established a strong base for bilateral exchanges. He voiced his hopes for enhanced practical collaboration in areas such as infrastructure development, tourism, energy, and improvements to trade and investment procedures, thereby fostering a vibrant and productive environment for economic and trade interactions.

The 15th Kashgar-Central and South Asia Commodity Fair commenced on August 15th, drawing participants from 40 countries and regions, including Pakistan, Kyrgyzstan, and Kazakhstan. Throughout the five-day event, 181 international businesses and 1,120 domestic firms are showcasing a diverse range of products and promoting cooperation for regional economic growth.