The Commerce Ministry Monday announced that the protocol to amend the China-Pakistan Free Trade Agreement (CPFTA) has entered into force from December 1, 2019.

In pursuance of the notification, the Ministry of Commerce has announced that the tariff concessions under Phase-II of the CPFTA will be implemented between the governments of Pakistan and China from 1st January, 2020.

Phase-II of the China-Pakistan Free Trade Agreement shall immediately eliminate tariff on 313 tariff lines of Pakistan's export interest, giving treatment to Pakistan's exports at par with Asean.

These 313 tariff lines cover over $ 8.7 billion worth of Pakistan's global export and $ 64 billon of Chinese global imports. Moreover, this will result in 75 percent of total trade liberalization for Pakistan in terms of tariff lines and 92 percent in terms of trade volume.