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Yuan likely to replace USD in Pakistan-China trade

Yuan likely to replace USD in Pakistan-China trade

India Blooms News Service | @indiablooms | 19 Dec 2017, 03:55 pm

Islamabad, Dec 19 (IBNS): The Pakistan government has said it is examining the proposal to replace the US dollar with the Chinese yuan for trade between China and Pakistan.

Minister for Planning and Development Ahsan Iqbal was quoted as saying by Dawn News: "We are examining the use of RMB instead of the US dollar for trade between the two countries."

He said use of yuan will not be against the  interest of Pakistan.

He said the move will benefit Pakistan.

The Pakistani minister expressed the thoughts during the formal launch of Long Term Plan (LTP) for the China-Pakistan Economic Corridor (CPEC) 2017-30 signed by the two sides on Nov 21.

Chinese Ambassador Yao Jing and officials of the provincial governments  attended the event on Monday.