Prime minister of Pakistan was on a tour of China, where the public was expecting lots of good news opposition was all set to present more allegations regarding the Pak-China trade and the aid which China was going to give Pakistan. At the same time, Imran Khan announced a good news that not only China has agreed to become Pakistan’s trade partner but the trade will be done in the currency of both countries, Rupee, and Yuan instead of Dollars.
Pakistan and China have agreed to trade in #Yuan and #Rupee instead of USD, after PM #ImranKhan’s visit to China.#PMIKVisitsChina @zlj517 @pcipakchina @GameChangerYR
Via: @PTIofficial pic.twitter.com/EOb1sQzcpD
— CPEC Official (@CPEC_Official) November 5, 2018
Pak-China Trade Significance
Economical resources claim that this new venture will play a very important role in reviving the trade in Pakistan and giving a new life to the almost dead economy and industrialization of Pakistan. There are many other factors which will get affected by this type of trade between the two countries. Total 15 agreements have been settled between two countries.
Last and 4th Day Highlights Package of Prime Minister Imran Khan visit to China. #PMIKVisitsChina #CPEC @wef @business @FT @TheEconomist pic.twitter.com/4VCH3Jgp5t
— PTI (@PTIofficial) November 5, 2018
Less dependence on Dollar
While China is more interested to trade in yuan and rupee rather than the dollar, Pakistan will be able to recover the great margin in the value of rupee which we were facing from years. This way our state will be less dependent over the US dollars.
Boost In Economy
There is going to be a huge boost in the economy of both the countries, though China has already set its mark in the industrialization. Pakistan has a huge textile and goods industry which was waiting for the right chance to get groomed. Pak-china trade has provided this chance to our sealed industries to prove themselves in front of the globe
Less Requirement Of Loan From IMF
After getting the massive relief through the help of Saudi Arabia, Pakistan has now found a 6 Million dollar help from China as well. This will reduce the burden of Pakistan in front of IMF and this way we will be recognized as a more stable state than before!
Chinese President Xi Jinping expressed his firm commitment to strengthen Pakistan-China strategic cooperative partnership for Shared Future in the New Era. He reiterated China's steadfast support to #Pakistan on all issues of core interest.#PMIKVisitsChina 🇵🇰🇨🇳 pic.twitter.com/V77IQgTVJE
— Government of Pakistan (@GovtofPakistan) November 2, 2018
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