Islamabad: Experts have urged the government to increase the country’s export capacity in order to facilitate the increasing demand from Chinese markets under the Free Trade Agreement (FTA) between the two countries, a news source reported. They called the FTA a ‘silver lining’ for the country’s economy.
A seminar titled ‘Pakistan-China Free Trade Agreement (FTA): Where we are and where we are going?’ was held on Monday to discuss the arrangements proposed under the FTA Phase-II. Under this proposed trade deal, China has announced to remove duties on more than 300 products, especially from the agricultural sector, paving the way for Pakistan to increase its trade volume.
Chinese Embassy Economic and Commercial Section Minister Counsellor Wang Zhihua said even though the trade volume had steadily increased between both countries over the years, trade imbalance remained a big problem which was of a structural nature. But Zhihua was hopeful that the second phase of the FTA would resolve such problems and strengthen trade ties.
Moreover, he stated that China was anticipating that the Pakistani government would adopt new industrial policies soon which would be beneficial for their investors.
