Islamabad: China has agreed, in principle, to extend duty-free access on additional 313 tariff lines to Pakistan under the second phase of the Free Trade Agreement (FTA), a news source reported.
Adviser on Commerce Abdul Razak Dawood will reportedly brief Prime Minister (PM) Imran Khan on the matter during a meeting of the federal cabinet on April 16.
Officials from Islamabad and Beijing will sign the China-Pak FTA-II during the upcoming visit of PM Imran Khan to China. During this trip, the premier is also set to attend the second Belt & Road Forum as a guest of honour.
Previous discussions between the officials 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.
Both countries had signed FTA-I in November 2006. The first phase, which was implemented for five years, remained in effect from July 1, 2007 to June 30, 2012.
