FPCCI welcomes bilateral trade in RMB with China.

KARACHI -- Engr. Daroo Khan Achakzai has appreciated Pak-China bilateral trade in RMB to reduce pressure on foreign exchange reserves. 'China is a trillion dollar economy, trillion dollar exports and imports, surplus in current account, high and growing per capita income with low level of inflation, unemployment and certainly lower interest rate,'' said Engr. Daroo Khan Achakzai in his welcome address to Airdy, CEO ICBC Pakistan along with his team. The delegation visited Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and held a meeting with FPCCI members and apprised them of the benefits of under taking trade in RMB currency. The FPCCI Chief underscored the need to use RMB as trading currency between Pakistan and China. He said that Currency Swap would be mutually beneficial and go a long way in strengthening economic ties between the two neighboring countries. He also highlighted that average trade volume between Pakistan and China is about US$ 20 billion annually in which imports from China is US$ 18 billion and export from Pakistan to China is merely US$ 2 billion.

There is a huge export...