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Shaukat Aziz: huge trade deficit between China and Pakistan nothing wrong
Last Updated: 2019-04-26 23:32 |
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BEIJING, April 26 (Economic Daily-China Economic Net) -- "The concept of equal trade between China and Pakistan is not really realistic," former Pakistani Prime Minister Shaukat Aziz said in an interview with the China Economic Net reporter on the first day of the Second Belt and Road Forum for International Cooperation.

The Thematic-Forum on Think Tank Exchanges of the Second Belt and Road Forum for International Cooperation was held at the Beijing-based China National Convention Center on the morning of April 25. A total of eight guests addressed the thematic-forum including Aziz. He asked the reporter for a cup of coffee before his interview.

"If we buy more than we export, it is not the end of the world, it is positive," Aziz said. When the reporter asked for his opinions about Pakistan’s exports accounting for only one-tenth of China-Pakistan trade, Aziz pointed out that “Pakistan buys lots of capital equipment that is expensive, most of them are high-tech items. China is a good supplier of these items. And what we export are commodities, so the price and everything are much lower.”

"I think this concept of equal trade on both sides is not really realistic. Importing goods if you need them, it’s not a bad thing. In the real world, if you need a product, you will go to the best supplier, you are not going to see what the balance concept is,” Aziz said.

"Someone thinks that imports are bad and exports are good. Actually, both are good and both could be bad if you know what you are doing. Pakistan has a very rich collection of products, we produce a lot of textiles and sell a lot to China, what we need to do is diversifying,” Aziz added.

"The balance of trade is important at the global level for a country, but with country A, you can have negative, and with country B you can have positive. Trade is very good you can import and add value, if there is demand in your country for the product, nothing wrong in it,” Aziz told the reporter.

In his previous speech, Aziz said that the Belt and Road Initiative is far more than the interconnection of infrastructure. Pakistan has contributed to this.

"The Belt and Road Initiative has confirmed the importance of sharing. We should make a long-term strategy and plan to help our neighbors, helping our friends to develop and expand their economic scales. We should also promote employment and economic development with forward-looking vision. If your neighbors have economic problems, your economic growth potential can also be affected," Aziz said.





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Shaukat Aziz: huge trade deficit between China and Pakistan nothing wrong | 2019-04-26 23:32
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