2nd phase of CPFTA will facilitate Pakistani traders: Firdous Awan

ISLAMABAD: Special Assistant to PM on Information and Broadcasting, Dr. Firdous Ashiq Awan has said that the second phase of the China-Pakistan Free Trade Agreement (CPFTA) would facilitate Pakistani traders.

Dr. Firdous Ashiq Awan posted on Twitter that this arrangement would facilitate Pakistani traders to exports their products to the Chinese market on zero duty.

She said that the implementation of the second phase of the CPFTA would reflect the everlasting relationship between the two countries.

The Special Assistant further said that that the country’s textile sector would profit the most under this agreement.

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Awan added that those producing agriculture and leather products, as well as confectionery items and biscuits, would take full benefit of it.

In this regard, Islamabad and Beijing completed all the legal formalities to implement the agreement.

The protocol for the implementation of the agreement was signed by the two countries during Prime Minister Imran Khan’s official visit to China.

Pakistan is already enjoying zero duty on the export of 724 products to China under the first Free Trade Agreement signed between the two countries in 2006.

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A Second Phase agreement is currently being negotiated between China and Pakistan. The second phase will lower tariffs further as well as normalize various trade procedures.

Earlier on 9th April, the 11th meeting of the 2nd phase of negotiation of China-Pakistan FTA was held in Beijing.