Commercial and Business Counselor of the Chinese Embassy Wang Jian said that second phase of Free Trade Agreement with China will be helpful in reducing the trade imbalance between Pakistan and China.
He was addressing the seminar on second phase of China Pakistan Free Trade Agreement organized by the ministry of commerce and textile in collaboration with Trade Development Authority of Pakistan. Wang said that FTA-II will open the new ways of economic collaboration between the two countries and further strengthen the economic ties between the two friendly countries. He also said that FTA-II will be beneficial for both the countries.
President Lahore Chamber of Commerce Irfan Iqbal Sheikh said that as a result of FTA-II, China will extend duty-free access to Pakistan on 313 items. The agreement will help boost the exports of the country besides increasing foreign exchange, he added. He said the new list is not limited to textile specific products but also includes textile goods, leather, engineering, chemicals, furniture, auto parts, plastic, rubber, paper board, ceramic, glass, surgical instruments, footwear, wood, articles of stones, sea food, meat, tractors, home appliances etc.
Dr Muhammad Hamid Ali, Joint Secretary Ministry of Commerce, gave a detailed presentation covering almost all relevant product areas and other aspects of the FTA. He enlightened the audience about benefits which would be accrued out of this arrangement. He answered the questions raised by the audiences to their satisfaction. Member National Tariff Commission Anjum Asad Amin while giving briefing about safeguard measures said that the government of Pakistan will monitor the data of import and export through a system.
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