Local traders in Gilgit-Baltistan are happy about a good thing that happened. On Sunday, the first shipment of stuff from China came into Pakistan using a new road trade deal between the two countries next to each other.
This big step follows a new road that connects China’s Kashgar city with Islamabad, which is Pakistan’s capital. This new road will help trade between the two countries.
This is a big deal because it’s the first time China and Pakistan are using this kind of trade route. It could set an example for other trade routes in the China-Pakistan Economic Corridor (CPEC). Two shipments of things going to Afghanistan have reached the Sost Dry Port using this new trade agreement.
The things will get cleared on Monday and then go to Afghanistan. China and Pakistan are friends, and China has spent over $65 billion on CPEC projects in Pakistan. This is part of China’s Belt and Road Initiative. The CPEC is a bunch of roads and stuff that connects China to the Arabian Sea, which helps Pakistan grow its economy.
The trade between China and Pakistan is over $12.06 billion, which is 19 percent more than last year. This is mostly because of the pandemic. The president of the Gilgit-Baltistan Chamber of Commerce, Imran Ali, is hopeful about this new trade route.
He thinks it will bring good things to the area, like new business chances and maybe cheaper prices for things. He says this road will make it easy for countries in Central Asia to trade with China. This is good for Pakistani traders.
