Need stressed to develop trade ties with China

Trade and industry

Islamabad: Raza Khan, Chairman Coordination, FPCCI on Sunday said that Pakistan’s best friend China emerged triumphant from financial crisis that has jolted world’s leading economies which proves the vision of Chinese leadership.

He said that future of whole world and that of Pakistan is tied to China which is poised to become world’s number one economic power soon.

Deep perception of the situation of the Chinese leadership kept the country safe at a time when almost all countries were grappling to cope with financial meltdown, he said while talking to Baluchistan Minister for Inter-Provincial Coordination Dr. Ruquia Saeed Hashmi.

The business leader said that China has maintained an average growth rate of 9.7 per cent in last three difficult years while it average growth in last three decades stands at 10 per cent which indicate that developing nations including Pakistan can learn a lot from this friendly nation.

Raza Khan said that international community benefits from development of China in a great way and international financial system badly needs sustained growth of that great country.

He said that Pakistan should also allocate 3.69 per cent of GDP to education like China and study their methods of interference that resulted in containing inflation and price hike etc.

AT the occasion, Dr. Ruquia Saeed Hashmi said that we need to get benefit from Chinese expertise with special focus on the instruments employed by their economic experts which have resulted in growth miracle.

Capitalism is already malfunctioning while China has introduced a superior economic model with lower tax and regulatory burdens, she said.

China can help Pakistan attain balanced and sustainable growth which is badly needed in the current set of circumstances, the minister said Dr. Ruquia Saeed Hashmi.

Sadia Hashmi said that friendship with China is one of the most valuable assets for Pakistan. She demanded more investment by Chinese in Baluchistan.

She said that the China has implemented reforms in a gradualist fashion transforming country into world’s fastest growing economy, the largest exporter and second largest importer of goods and world’s top manufacturer. They have reduced poverty rate from 53 per cent in 1981to 2 per cent which is a lesson for us.

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