Pakistan and China have successfully signed the China Pakistan Free Trade Agreement Round 2, yesterday in China on the event of Belt and Road Initiative.
The second round has been of key importance to Pakistan where China has agreed to accept Islamabad’s request that is not specific to textile only,” he said and added that the duty free access provided on leather, chemicals, furniture, auto parts, plastic, surgical goods, woods, washing machines, sea food, meat and home appliances etc. The Advisor to PM for Commerce Abdul Razak Dawood.
A $500 million jump in exports at initial stage from Pakistan to China with implementation on second phase of China Pakistan Free Trade Agreement (CPFTA) is expected. And in the long run this is going to be a game changer for exporters of Pakistan.
Prime Minister Imran Khan held a bilateral meeting with Chinese Premier Li Keqiang at the conclusion of the 2nd Belt and Road Forum (BRF). The two Prime Ministers were accompanied by Ministers and senior officials during the meeting.
Both leaders reaffirmed the time-tested and strong friendship between Pakistan and China and exchanged views on the myriad facets of bilateral engagement. He hoped that the conclusion of the Second Phase of China-Pakistan Free Trade Agreement (FTA), would give further boost to trade and economic relations between the two countries.
The two Prime Ministers also witnessed the signing ceremony at which the Second Phase of the Pakistan-China Free Trade Agreement was signed.
More information on this is yet to be published by the government.
Source: The NEWS, Business Recorder, Ministry of Commerce Pakistan, Emerging Pakistan.
