Copper export to China
Pakistan’s copper export to China increased by 16.5%
Chinese companies show complete confidence in Pakistan’s digitization
BEIJING: Copper and articles thereof have seen an increase in exports to China from Pakistan in recent years.
In the first two months of this year, it increased by about 16.5%. Sources in Pakistan Embassy Beijing informed China Economic Net that this is due to the growing demand for copper products in China and increasing economic ties between the two countries. The export of copper and articles thereof from Pakistan to China has been on a steady rise since 2015, with the total export value reaching $176 million in the first two months of 2023 whereas last year it was $151 million – an increase of about 16.5%.
Muhammad Ahmed, a Pakistani copper exporter said that this has been driven by the increased investment from Chinese companies in Pakistan under China-Pakistan Economic Corridor, as well as the growing demand for copper products in China. As such, this trend is likely to continue into the future, with both countries expected to benefit from increased economic cooperation.
He further said that this increased export of copper from Pakistan to China has a positive impact on both countries economies. It has not only generated revenue for Pakistan but also created employment opportunities and provided access to new markets for Pakistani businesses. “The top product exported from Pakistan to China was refined copper products, unwrought (community code 74031900) worth $94.45 million in the first two months of 2023 whereas last year in the same period it was $77.61 million. Overall, this product exported from Pakistan to China was $470.94 million in 2022”, sources stated.
Moreover, the digitization of Pakistan has been fundamentally progressing and will accelerate in the coming decade.
We are confident about the benefits of a digital society and I am certain that through our converged technologies and innovative solutions, we will make more contributions to digital Pakistan, highlighted Wang Hua, Chairman and CEO of Zong 4G in their recently released annual Sustainability Report for the year 2022 titled “Building Pakistan Building a Better Future”.
A report titled “Pakistans digital journey, Recommendations for Digital Transformation in Pakistan” released by the Overseas Investors Chamber of Commerce & Industry (OICCI) argues that digitization has the potential to add $60 billion to the economy by 2030 if the government creates a favourable investment climate for local and foreign investors to fill in the large gaps in digital infrastructure and connectivity.
The importance of digital innovation in Pakistan cannot be overstated as it can help the country overcome the barriers of distance and connectivity that have been challenges for many years. Pakistan has attached great importance to the development of digital economy in recent years, China Economic Net (CEN) reported. The country has established safe cities in Islamabad and Lahore, China-Pakistan fibre-optic cable, smart classrooms and other projects in collaboration with Chinese enterprises to improve Pakistan’s transportation, education, scientific and technological development and industrial production. In the financial sector, the principal operators have increased their investment in the digital economy and released heavyweight apps such as easypaisa and jazzcash, which have effectively changed peoples business behaviour and lifestyle.
Chinese companies have been investing heavily in Pakistan in recent years. Since its inception in 2008, Zong 4G has prioritized sustainability as its primary agenda by investing in school initiatives, introducing various digital services and preserving the environment. The company has positively impacted 2.5 million individuals directly through 15 campaigns across 17 cities in Pakistan in 2022. Agencies
