BEIJING, Oct 14 (APP):  Emphasizing that trade and economic cooperation is an important plank of Pakistan, China relations, Ambassador of Pakistan to China Masood Khan here Wednesday said “but this is not where it should be”.Addressing the Round Table on Pakistan-China Trade and Investment Cooperation (The Business Forum) which was presided over by Prime Minister Syed Yusuf Raza Jilani, Ambassador Khan said the truth is that although trade relations between our two countries have moved upward swiftly in the past five years, the overall trade is a modest US$ 7 billion.

He said that given the strong political solidarity between our two countries, contiguity of our territories and complimentarily of our economies, the bilateral trade between our two countries should be at least four times higher than at present level, adding “we are working towards that goal”.

Khan pointed out that we can draw satisfaction that in the past several years, Chinese investment flows to Pakistan have been increasing.

“Today 120 Chinese enterprises and 10,000 Chinese personal in Pakistan are contributing to Pakistan’s economy in diverse sectors including telecommunications, infrastructure development, energy, mining, construction, consumer goods, auto industry and defense technology.”

On the direction of the top leadership of China, the most competent Chinese companies are operating in Pakistan which are also the top China brands all over the world, he said.

“But there is no room for complacency in the realm of investment”, said Ambassador Khan adding “we can do much more.”

He said that if we harness the fully ingenuity and innovativeness of our business communities, we can create even stronger interface in the areas of transportation, energy and communication corridors.

Ambassador Khan pointed out that Pakistan is exporting cotton yearn, cotton fabrics, chromium ore, fisheries, leather and marble, while we are buying goods from China which include telecommunications equipment, synthetic and silk textile products, coke(for use in steel mills), fertilizers, pesticides, autoparts and machinery.

To address the trade imbalance which is at present in Chin’s favour, the Ambassador said that we have to increase the volume of trade and investment; diversify the areas of investment and attract more Chinese trade delegations to Pakistan.

Khan emphasized that with the policies pursued by the government, we are determined that our growth rate would increase in the years to come.

In the past year, agriculture and small and medium sized enterprises have done well, Khan said adding that large scale industry needs attention and FDI.

There is immense scope for Chinese investment in many sectors in Pakistan, he noted.

The Business Forum was largely attended by top Chinese officials, prominent Chinese businessmen from both public and private sectors working in Pakistan, Chinese Ambassador to Pakistan Mr. Luo Zhaohui, Foreign Secretary Salman Bashir, Pakistani businessmen and banking community working here.