PCJCCI welcomes reopening of Khunjerab Pass for Pak-China trade
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PCJCCI welcomes reopening of Khunjerab Pass for Pak-China trade
LAHORE (Web Desk) - Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) on Tuesday welcomed the initiative of Pakistani and China governments to reopen the Khunjerab Pass after three years.
During a think tank session held at the PCJCCI Secretariat, PCJCCI President Moazzam Ghurki said the reopening of Pass -- that connects Gilgit-Baltistan with China’s Xinjiang Uyghur Autonomous region -- would resume bi-lateral between the two countries.
He recalled that in 2019 trade volume between China and Pakistan surged by nearly 47 per cent to $856.3 million but due to the closure the national exchequer suffered around Rs8 billion revenue losses as the CPEC-related shipments halted following the border closure.
Hundreds of people affiliated with the Pakistan-China border trade faced economic hardship following suspension of trade and travel between the two countries through the Khunjerab pass, Ghurki added.
Fang Yulong, the Senior Vice President of PCJCCI, said the Khunjerab Pass lies on the strategic Karakoram Highway (KKH), which is a part of multibillion-dollar China-Pakistan Economic Corridor (CPEC) project. The port is extremely important platform and is considered to be an important link to China’s flagship Belt and Road Initiative (BRI).
He informed the participants that the trade at Khunjerab Pass is conducted through the newly-introduced Web-based One Customs (WeBOC) system. The government believed that trade would be much easier after WeBOC as it would align the Sust Dry Port with all the modern infrastructure in dry ports across the country, Yulong added.
Hamza Khalid, the Vice President of PCJCCI, said the reopening of the border crossing is expected to boost economic activities between the two countries.
“The constant assistance and reopening of this border will do wonders for the emerging economic status of Pakistan and will certainly have a positive impact on the business community,'' he added.
PCJCCI secretary general Salahuddin Hanif said the reopening of the pass has removed a hurdle that would further expedite the pace of work on the China-Pakistan Economic Corridor (CPEC). He appreciated the relevant authorities and team members over the restoration of trade and travel facility.
