ISLAMABAD: Special Assistant to Prime Minister on Information and Broadcasting Firdous Ashiq Awan said on Monday that the second phase of China-Pakistan Free Trade Agreement (CPFTA) will allow export of more products to China that will benefit Pakistani traders.
The second phase of CPFTA came into the effect from Sunday that allows the Pakistani manufacturers and traders to export around 313 new products on zero duty to the Chinese market.
“This is a good news for the people and friends of both countries. More good news about the China Pakistan Economic Corridor (CPEC) and Pakistan-China friendship will come in the coming days,” Awan said on Twitter.
She congratulated the “iron brothers” on the start of second phase of CPFTA.
“The FTA not only reflects the longstanding relations between the two countries but will also facilitate Pakistani traders export their products with zero rate duties,” the special assistant said.
Awan said the CPFTA will mainly benefit Pakistan’s textile sector.
“Besides agricultural, leather, confectionary and biscuit manufacturers, Pakistani traders would be able to export Pakistani products to China,” she further said.
Awan said Pakistani traders could export 313 new products to China under the agreement, adding Pakistan is already taking benefit of exporting 742 products to China on zero duty.
“Pakistan will be allowed to export 1047 products after the implementation of the second phase of the agreement,” she went on to say.
Pakistan and China have signed a protocol for the implementation of the agreement during the last visit of Prime Minister Imran Khan to China, under which, Pakistan has got the export concession on 313 new items. – NNI