Pakistani goods will have access to China under CPFTA

ISLAMABAD: China will provide more opportunities for Pakistani competitive goods to access the Chinese market under the China-Pakistan Free Trade Agreement Phase-II came into force on December 1.

This was stated by Minister Counsellor in the Economic and Commercial Office of the Chinese Embassy in Pakistan, Dr. Wang Zhihua, while talking to China Economic Net.

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Mr. Zhihua said the Free Trade Agreement Phase-II is a critical initiative to strengthen trade liberalization and deepen the all-weather strategic partnership between the two countries.

Under the second phase of the agreement, the tariff concession on goods will be implemented from 1st of next month.

The objectives of free trade agreement between both the countries,  include integration of respective economies of Pakistan and China for mutual benefits.

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It also comprises providing a predictable investment regime in the services sector especially in infrastructure, computer & related services, educational services, research and development, tourism, sporting services and environmental services.

The accord also facilitates joint ventures to build the capacity of domestic service suppliers, transfer of technology and creation of new jobs in Pakistan.