Free trade phase-II : Talks with China on expanding ties in June
Duty-free access for Pakistani products to Chinese market will be discussed.
ISLAMABAD:
A delegation consisting of customs officers and commerce ministry representatives will visit China in June for the second round of the dialogue on Free Trade Agreement Phase-II.
Sources told The Express Tribune that the Free Trade Agreement (FTA) between Pakistan and China was implemented on January 1, 2007 and it will expire by the end of this year. They said that these talks would consider and finalise steps to provide Pakistani products duty-free access to the Chinese market, in order to bring balance and promote bilateral trade.
According to sources, Pakistan’s duty-free access to the $1 billion Chinese market will be discussed in detail. China will approve zero duty import of 268 items from Pakistan which include textile products, agricultural items, seafood, sports goods, fisheries products and manufactured goods. China, however, had also demanded more access for some of its items to the Pakistani market.
Other topics of discussion will include an offer and a negative list. The negative list will consist of items that will not be traded between the two countries. In addition, a strategy for technical and financial assistance from the Chinese to improve the capacity of Pakistan’s export industry will be finalised.
A framework will also be prepared in perspective of the cooperation offered by China for improving Pakistan’s small and medium enterprises and the agricultural sector. Chinese experts will provide assistance to Pakistan for introducing modern technology in the agricultural sector.
The first round of talks for FTA Phase-II was held in March this year in Pakistan.
Published in The Express Tribune, May 13th, 2011.
A delegation consisting of customs officers and commerce ministry representatives will visit China in June for the second round of the dialogue on Free Trade Agreement Phase-II.
Sources told The Express Tribune that the Free Trade Agreement (FTA) between Pakistan and China was implemented on January 1, 2007 and it will expire by the end of this year. They said that these talks would consider and finalise steps to provide Pakistani products duty-free access to the Chinese market, in order to bring balance and promote bilateral trade.
According to sources, Pakistan’s duty-free access to the $1 billion Chinese market will be discussed in detail. China will approve zero duty import of 268 items from Pakistan which include textile products, agricultural items, seafood, sports goods, fisheries products and manufactured goods. China, however, had also demanded more access for some of its items to the Pakistani market.
Other topics of discussion will include an offer and a negative list. The negative list will consist of items that will not be traded between the two countries. In addition, a strategy for technical and financial assistance from the Chinese to improve the capacity of Pakistan’s export industry will be finalised.
A framework will also be prepared in perspective of the cooperation offered by China for improving Pakistan’s small and medium enterprises and the agricultural sector. Chinese experts will provide assistance to Pakistan for introducing modern technology in the agricultural sector.
The first round of talks for FTA Phase-II was held in March this year in Pakistan.
Published in The Express Tribune, May 13th, 2011.