Chinese Premier Li Keqiangs has said that Pakistan is the first South Asian country to sign a free trade agreement and currency swap agreement with China. In an interview to Pakistani media on the eve of his visit‚ the Chinese premier has said his country takes its trade imbalance with Pakistan seriously and is taking measures to address the issue.
He said there is great potential to be tapped in economic co-operation between the two countries. Premier Li said Pakistan's export to China last year increased by nearly fifty percent. China is Pakistan's second largest trading partner and fourth largest export market. He said steady progress has been made in bilateral co-operation in energy‚ infrastructure‚ telecommunications and financial sectors.
He said political bond between Pakistan and China is unbreakable and our business ties as a whole have maintained growth. Premier Li said China will step up consultation with Pakistan on second phase tax reduction negotiations under the framework of China-Pakistan Free Trade Area.