Message from Adviser to the Prime Minister on Commerce & Investment H.E.Mr.Abdul Razak Dawood

I would like to congratulate the people of The Islamic Republic of Pakistan and The Peoples Republic of China on the auspicious occasion of 70 years of diplomatic relations between the two countries. Pakistan-China relations are based on mutual respect， shared perceptions and aspirations and win-win cooperation. Since 1951， bilateral relations have been on an upward trajectory encompassing different areas of mutual interest， such as trade， investment， economy， defence， culture， and cooperation between people. Over the past 70 years， the two nations have always stood by each other and extended mutual support whenever the need arose. During the recent pandemic， the Chinese Government， businesses and people have provided generous support to Pakistan in coping with the situation， which we deeply appreciate.

I am pleased to state that in recent years the bilateral trade and investment relations have gone from strength to strength. China has become Pakistans largest trading partner， the largest source of imports and the second largest destination for Pakistans exports. China has also become the largest source of foreign direct investment into Pakistan. The China-Pakistan Free Trade Agreement （CPFTA） and the China-Pakistan Economic Corridor （CPEC） provide sound and credible institutional foundations for an even stronger commercial and economic engagement between the two countries.

Both the CPFTA and CPEC have entered their second phases. The scope of CPFTA has been greatly enlarged to cover 75% of the tariff lines of each country. We expect that the enhanced duty-free market access accorded by the CPFTA to the exporters from both countries will diversify and significantly drive up bilateral trade in a way that is mutually advantageous. In addition to goods， trade in services between the two countries has an enormous potential to grow. Services are a booming sector of the economy in both Pakistan and China. Our two countries can pool their resources in different sub sectors， such as Information and Communication Technology， for a winwin outcome.

The second phase of CPEC， which focuses on industrial and agricultural cooperation， will complement the potential unleashed by CPFTA. Pakistans labor and natural resources， and a liberal investment regime combined with Chinese capital and technology will usher in a mutually advantageous outcome. We are looking forward to receiving more FDI from China in agriculture and manufacturing， particularly in export-oriented sectors， as a significant contribution to rejuvenate Pakistans economy and cementing of the bilateral economic relations.

I would also like to appreciate the China Trade News for bringing out this Special Issue on Pakistan-China Trade and Investment to mark this historic occasion. Lets pursue our common objective with even greater vigor to realize the enormous potential of the worlds strongest bilateral relationship.