The China Pakistan Free Trade Agreement (CPFTA-II) has immediately abolished tariffs for Pakistan on 313 products, while a total of 75% of the tariff lines will be liberalised over the next decade.
The second phase of the China Pakistan Economic Corridor (CPEC), a flagship project of Belt and Road Initiative has started with the establishment of special economic zones in various parts of the country.
The second phase of China Pakistan Free trade Agreement (CPFTA-II) has initiated from today January 1, 2020.
Negotiations on FTA between Pakistan and Thailand are in final stage, however, Pakistani exports must prepare themselves right now to penetrate deep into the South East Asian markets through Thailand with full preparedness.
As with many other countries, Pakistan’s FTA with China has had a devastating impact on its domestic SMEs. Beijing and Islamabad have a strategic partnership, but the Chinese remain cutthroat competitors in trade.
The Pakistan government has announced that tariff concessions on goods under the revised FTA with China will come into effect from Jan 1, 2020 after seven years of negotiations.
Pakistan and Qatar have agreed in principle on a preferential trade agreement (PTA) and a free trade agreement (FTA) to enhance bilateral trade. The agreements will soon be signed after necessary formalities.
Pakistan and China trade will get a big a boost with the implementation of second phase of their free trade agreement from December 1.
Thanks to the World Bank’s flawed and corrupt investment arbitration process, the rich are making a fortune at the expense of poor countries.
Waheed said that Pakistan and Turkey have been negotiating a free trade agreement and many rounds of talks have already been held for this purpose.
China has approved the premature activation of the free trade agreement with Pakistan. This is the second phase of FTA with china that was signed in Beijing in April 2019.
Thailand has already submitted a list of around 200 items to be traded between the two countries under the proposed Free Trade Agreement (FTA), but Pakistan government’s response and progress was waited.
The Karkey dispute between the government and a Turkish ship-based energy firm has finally been resolved due to efforts of Turkish government, Prime Minister Imran Khan said.
International institutions, through high-level backdoor contacts, have agreed to waive off the $1.2 billion penalty Pakistan has to pay to Turkey’s Karkey, senior lawyer Babar Awan said.
The Adviser to Prime Minister on Finance and the Attorney General for Pakistan are meeting with the company’s board.
Australia has refused to offer preferential market access to Pakistan on the grounds that the country has a very limited basket of tradable goods and services.
Pakistan has paid over $100 million to Turkish rental power company Karkey as a penalty out of $800 million, Senator Sherry Rehman has said.
The Senate Special CPEC has opposed setting up CPEC Authority through Presidential Ordinance, arguing that they would not accept any proposal without being presented to Parliament for approval.
China, he said, had never pursued a trade surplus and the trade imbalance with India was “largely the result of differences in their industrial structures.
The government is set to launch 13 mega projects across the country in an effort to give a fresh boost to the agriculture sector with assistance from China.