Pakistan-China FTA to be signed by mid March

[BHarwana]

Islamabad

Second Phase of Free Trade Agreement (FTA) between Pakistan and China would be signed by mid of coming March to increase the trade between two countries.
During next month, the Chinese vice minister will visit Islamabad along with his delegation for signing the amended FTA between Pakistan and China, senior official of Ministry of Commerce and textile told APP here on Wednesday.
He said that after intense negotiations with Pakistani delegation led by Federal Secretary for Commerce, Muhmmad Younas Dhaga, the Chinese side was agreed to accommodate Pakistan’s demands in the Pak- China FTA.
Replying to a question, he said that these negotiations were started in 2012 to finalize the revised version of China Pakistan FTA.
He said that Chinese side also agreed on Electronic Data Exchange which would help rescuing the chances of under invoicing, another major concern of Pakistani industry.
Replying to another question, he said that in the upcoming Strategic Trade Policy Framework (STPF) 2018-23 , Ministry of Commerce was devising the long, medium and short term trade policy for the period of five years so that trade could benefit from the incentives announced in STPF 2018-23.
The major focus of STPF would boost exports in the technology and Services Sector, competitiveness and investment linkages, particularly attraction of Foreign Direct Investment (FDI) in the export related Industry and integration of local industry into global value chain.
He suggested all the stakeholders for their concrete proposals based upon proper research of markets and data, for their consideration by Ministry of Commerce and incorporation of the same in the upcoming STPF.
Replying to another question, he said country’s exports increased in last three months and were expected to reach at $ 23 billion in coming months.—APP



https://pakobserver.net/pakistan-china-fta-signed-mid-march/

 

[BHarwana]

Finally.

 

[shootingstar]

Great development for China and India.

 

[Crystal-Clear]

good move

 

[Species]

What are the products that Pakistan produces but China doesn't and what is the demand of those particular products in China?

 

[Mrc]

textiles

What are the products that Pakistan produces but China doesn't and what is the demand of those particular products in China?

 

[Species]

textiles

You mean China doesn't produce any textiles?

 

[khansaheeb]

What are the products that Pakistan produces but China doesn't and what is the demand of those particular products in China?

We do a straight swap through CPEC, happy that we are exporting and China will be happy that they are exporting and everyone is happy. Why are you asking awkward questions, don't you have enough for Bangladesh?

 

[yjdlbcj]

Textile, clothing. It is estimated that Chinese enterprises will invest in these projects in Pakistan. Garment enterprises in China are becoming more and more difficult to run because of rising rent and personnel costs. So time outside, I estimate the Gwadar Port around, immediately formed industrial area, production of products will be easily exported to Europe and other surrounding areas.

 

[Jungibaaz]

Textile, clothing. It is estimated that Chinese enterprises will invest in these projects in Pakistan. Garment enterprises in China are becoming more and more difficult to run because of rising rent and personnel costs. So time outside, I estimate the Gwadar Port around, immediately formed industrial area, production of products will be easily exported to Europe and other surrounding areas.

For sure there are some industries in which Pakistan could become competitive, what was lacking in the past was infrastructure, investment and ease of doing business. All three of these are being dealt with. China's looking to expand consumption domestically and invest in infrastructure in Pakistan. On top of that, we are set to sign a new version of the existing trade deal. All these factors are coming together at the same time, and they're showing great promise.

 

[Clutch]

What are the products that Pakistan produces but China doesn't and what is the demand of those particular products in China?

Pakistan produces many things... One of the major production is of Indian Burnol Consumption ... Which is basically, any positive news coming from Pakistan causes the Indians South of us to self combust in a jealous rage...

Pakistan: for over 70 years causing Indians to self combust.

I am most enthusiastic about Pakistan's IT potential to become a power house in that sector. Pakistan, primarily got left behind in IT due to mis-governance and has not been able to fully tap this very promising potential.

 

[yjdlbcj]

Free trade allows businessmen from both countries to trade without borders. In this way, enterprises in China's industrial transformation can set up enterprises and produce products in Pakistan. Then return Chinese and other markets, as in the domestic production of the same. Now China's infrastructure in Pakistan will invest in future enterprises and provide power, transportation and other safeguards. China is now in the process of industrial transformation, focusing on the production of high-tech and high value-added products. The acquisition of a large number of European enterprises and the introduction of technology.
My city is now mainly engaged in large electronic commerce data, the headquarters of the Alibaba and Taobao. The car industry in our city is also good, and it has just become the biggest shareholder of Daimler Benz. Volvo was also acquired before.So many industries need to be moved out.

 

[randomname2018]

Free trade is a great concept. The UK needs free trade deals with all the major trading nations.