ISLAMABAD: “In Dezhou, Shandong Province, China, the furniture industry is one of the cornerstone industries. With a population of over 200 million, Pakistan is China’s all-weather strategic partner. On Tuesday, Commercial Counsellor Badaruz Zaman of Pakistan’s Embassy in China said, “It is highly complementary to China in the furniture business.”
The commercial counsellor noted that the second phase of the China-Pakistan Free Trade Agreement (CPFTA) has achieved exceptional success while speaking at the online Dezhou Furniture Industry Chain Pakistan Market Development Promotion Conference.
“Around 6,000 items will be duty-free in the next ten years, improving access to markets for each other, and trade has had a wonderful run in the last two to three years.” Exports from Pakistan to China increased by nearly 70% in the last quarter.”
All delegates were encouraged to participate and contribute to the increase in bilateral trade and investment in Pakistan, according to Zaman. Zhong Ling, Deputy Director of the Standing Committee of the Dezhou Municipal People’s Congress and Director of the Dezhou Furniture Industry Chain, stated at the event that Dezhou’s furniture industry was included in 30 provincial-level industrial clusters in Shandong province with a total value of over 10 billion yuan.
The items are shipped to more than 30 countries, with a wide range of furniture products, a large market coverage, and a complete industrial chain.
She anticipates future collaboration between the two sides, not only in the furniture industry, but also in chambers of commerce, corporations, and other areas, with the use of an industrial internet platform and the power of finance and capital, to pursue common development and generate splendour.
The Dezhou furniture industry chain has developed an organic industrial chain with the integration of production, supply, and marketing, according to Pakistan China Centre Executive Director Wang Zihai, who chaired the session.
“It is hoped that we can take advantage of the interaction of the furniture industry to further strengthen cooperation in industry exchanges, project investment, and people-to-people exchanges, so as to promote the development of two-way economic and trade cooperation,” he added as Pakistan’s investment counsellor.
