Pakistan’s export of copper and related articles to China has witnessed a substantial surge, crossing the impressive $1 billion mark in the first eleven months of 2023.
According to sources from the Commerce Ministry of Pakistan, these exports marked a notable 9% increase, reflecting a robust bilateral trade dynamic.
Growing Partnership
Ghulam Qadir, Commercial Counsellor at the Pakistan Embassy in Beijing, highlighted the keen interest of the Pakistani government in bolstering copper and associated product exports to China. Notably, he expressed optimism about the trajectory of these exports, foreseeing a further increase, particularly in refined copper products.
Foreign Investment Drive
Pakistan has actively sought foreign investments, with a particular focus on attracting prominent Chinese companies. Qadir emphasized that such investments hold the potential to bring value addition, paving the way for the production of high-value products with global market appeal. This strategic approach not only promises economic growth but also positions Pakistan to gain advanced technologies and expertise.
Role of Chinese Companies
Qadir underscored the active role of the Metallurgical Corporation of China (MCC) in Pakistan’s copper sector. MCC, a key player in the Chinese copper industry, played a crucial role in establishing the Saindak copper mines back in 1995. This collaboration has significantly contributed to the ongoing success of the copper trade between the two nations.
Local Perspective
Awis Mir, Chairman of DEA Group and a prominent Pakistani copper exporter, shed light on the driving forces behind this surge. He attributed the growth to increased investments by Chinese companies partnering with local Pakistani entities and a heightened demand for copper products in China, particularly in the post-COVID-19 era. Mir expressed confidence that this positive trend is poised to continue, further strengthening the economic cooperation between Pakistan and China.
Conclusion
As the copper export figures between Pakistan and China continue to rise, the collaborative efforts between the two nations, driven by strategic investments and heightened demand, underscore a mutually beneficial economic partnership.
The success in the copper sector not only signifies economic growth for both nations but also lays the groundwork for expanded cooperation in technology and manufacturing capabilities.
