Islamabad: The second phase of the China Pakistan Free Trade Agreement (CPFTA-II) is expected to come into effect from July 1, 2019 onward – according to a news source. This information was revealed by Adviser to Prime Minister on Commerce and Industries Abdul Razak Dawood at a recent press conference.
The advisor stated that the agreement had already been approved by the Pakistani government, and now stood with the Chinese government for ratification. He added that this process was expected to take a few months to complete, and that the FTA would probably come into effect starting July 1.
Dawood remarked that this agreement would allow Pakistan to reap the benefits of duty-free market access along 313 tariff lines. He also listed the local industries that would be sheltered from the effects of this accord. These protected industries include the country’s chemical, oil, steel, and rubber shoes concerns. In addition, maximum market access would be provided for industries such as textile, leather, plastic, furniture, and engineering products.
