Off the wire
• Palestinian FM says independence effort needs solidarity from Asian, African countries  • Scottish National Party launches general election manifesto for stronger Scotland  • China tightens graft watch ahead of holiday  • Shanghai GM to invest 16 bln USD between 2016 and 2020  • Person arrested for jumping White House fence  • Obama to host Tunisian president in May  • Somalia: investment from Asian-African countries can help Mogadishu fight terrorism  • Enrique thinks positive ahead of PSG return leg  • Opposition protests slow down anti-Ebola war in Guinea  • Roundup: 15 insurgents killed, 19 de-miner kidnapped in Afghanistan  
You are here: 　 Home

China, Pakistan to lift bilateral trade to 20 bln USD in 3 years

Xinhua, April 20, 2015 Adjust font size:

China and Pakistan on Monday agreed to set a target of raising bilateral trade to 20 billion U.S. dollars in three years.

The agreement was announced in a joint statement issued during Chinese President Xi Jinping's state visit to Pakistan.

China has become Pakistan's largest trading partner. Official statistics show that two-way trade exceeded 16 billion U.S. dollars last year, marking an annual growth of 12.57 percent.

The two sides also agreed to adopt proper measures to alleviate their trade imbalance and facilitate the second phase of negotiation on a China-Pakistan free trade agreement, according to the statement.

In particular, the two countries stand ready to expand reciprocal opening up of their banking sectors, it added.

Pakistan, said the statement, welcomes the establishment of the Asian Infrastructure Investment Bank, a China-proposed multilateral institution which will finance infrastructure projects in Asia.

The two sides agreed to facilitate the preparation work for the establishment of the bank, in a bid to further promote infrastructure building and economic development of the region, it said. Endi