From January 1, 2020 to onward, the China Pakistan Free Trade Agreement (CPFTA) will be fully operational. FTA II was negotiated in PML(N) tenure and the then commerce minister Engineer Khurram Dastgir Khan put best of his efforts for this. Both countries held about ten rounds of parleys to finalize the agreement which has been signed finally. Federal Board of Revenue (FBR) will exchange electronic trade data with China that will disseminate real time information. China has given additional incentives on 313 Pakistani products due to which Pakistan’s exports to China will further grow by about $4 billion within 6-7 years.
Chinese Ambassador to Pakistan, Yao Jing also called on the Advisor to Prime Minister on Commerce Mr. Abdul Razak Dawood and highlighted the importance of bilateral trade. The Ambassador assured full-cooperation from the Chinese side. The investment relations showed the satisfaction on shrinking trade imbalance between China and Pakistan. The phase-II of the CPFTA is a significant feat for trade and economic relations of both the countries.
