Islamabad, February 21 (NNI): Chromium ore and concentrates have seen an increase in exports to China from Pakistan in recent years.
In 2023, exports increased by 32%, reaching $117.68 million, compared to $89.28 million the previous year, China Economic Net (CEN) reported on Wednesday quoting sources from the Commerce Ministry.
Ikram Ul Haq Sulehri, an economic expert, told CEN that the Pakistani government is keen to boost chromium ore exports to China.
He also mentioned that Pakistan’s exports of chromium ore to China have beenincreased recently due to good quality and competitive prices. There has been a huge demand in China in recent years.
“Pakistan has taken proactive measures to ensure the quality and consistency of its chromium ore exports. Stringent quality control standards, adherence to international regulations, and certification processes have enhanced the market reputation of Pakistani Chromium Ore, making it a preferred choice for Chinese manufacturers,” he stated.
Sources also mentioned that China’s total chromium ore import in 2023 was $5.033 billion, while Pakistan’s share in the total import was over $117.68 million.
This is due to increased investment by Chinese companies in collaboration with local Pakistani companies and the rising demand for chromium ore products in China post-COVID-19.
This trend is expected to persist as both countries stand to gain from enhanced economic cooperation.
“Pakistan has been actively seeking foreign investments, particularly from huge Chinese companies, to add value and produce more valuable products for the global market.
Having Chinese companies invest in Pakistan would not only provide a boost to the country’s economy but also open doors for advanced technologies and expertise.
This would enable Pakistan to enhance its manufacturing capabilities and produce high-quality, value-added products that can meet international standards”, Ikram added.
Pakistan has the potential to further capitalize on its rich mineral resources and leverage its strategic geographic location to emerge as a key player in the global minerals market.
By continuing to invest in infrastructure, technology, and human capital, Pakistan can sustain its export momentum and unlock new avenues for economic prosperity in the years to come, Sulehri added. NNI
