Islamabad: Pakistan and China have reached a consensus regarding the workings of the second phase of the Free Trade Agreement (FTA), a news source reported. Both sides held two-day discussions in Beijing for this pupose.
Secretary Commerce Division Sardar Ahmad Nawaz Sukhera and Secretary Finance Younus Dagha represented the Pakistani side during the interactive sessions. A number of officials from the Commerce Division, Federal Board of Revenue (FBR), Ministry of Industries & Production, and other relevant ministries accompanied Sukhera and Dagha.
Both countries will sign the China-Pak FTA-II during the upcoming visit of Prime Minister (PM) Imran Khan to China. During this trip, the PM is also set to attend the second Belt & Road Forum as a guest of honour.
The discussions have also yielded an agreement by China to extend unilateral market access to hundreds of Pakistani products. The country will also lend another special quota worth USD 1 billion to Pakistan for the export of wheat, onion, potato, and cherry.
On the team’s return to Pakistan, Advisor to PM for Commerce, Textile, Industry & Production, and Investment, Abdul Razak Dawood is expected to announce the pact signed with China. He will make the declaration once the pact gets the approval of the federal cabinet.
