Pakistan and China have agreed to offer zero per cent duty on 70pc tariff lines to each other under the revised Free Trade Agreement, a move that is expected to add to increasing imbalance in bilateral trade and revenue loss.
Foreign Minister Khawaja Muhammad Asif and his Iranian counterpart Dr. Javad Zarif on Monday agreed to continue engagement for enhancing economic cooperation including bilateral trade, investments, and commercial interaction to promote shared prosperity.
The second phase of the free trade agreement (FTA) between Pakistan and China would be signed by mid-March to increase bilateral trade.
Pakistan and China have agreed to amend the bilateral free trade agreement (FTA) with a view to providing Pakistani exports with better access to the Chinese market.
Deputy Chairman of Planning Commission Sartaj Aziz stressed the need for early conclusion of Free Trade Agreement between Pakistan and Turkey to help boosting bilateral trade.
The demands included those from exporters to provide tariff concessions equivalent to the ASEAN countries.
Both countries agreed to expand the PTA and opt for a Free Trade Agreement.
place in Beijing on Wednesday. The government is preparing for the FTA dialogue with an aim to explore huge market of China ,” said an official of the ministry of commerce. China had recently offered to re-initiate the stalled talks on free trade agreement-II, which is likely to resolve the pending issues.
Pakistan will demand unilateral concessions on approximately 70 products mostly of export interest to China as part of the second phase of the Free Trade Agreement (FTA).
The TCC tribunal failure did not reflect an internal failure on the part of Pakistan’s state apparatus as much as it did the hegemonic nature of the global BIT regime that developing countries have been subjected to by the West.
Pakistan and Saudi Arabia have accelerated negotiations on a bilateral investment treaty.
Despite several rounds of talks and negotiations spanning over a decade, progress has yet to be made on reaching a free trade agreement with Turkey.
Pakistan is developing a comprehensive package for the promotion of bilateral trade with Saudi Arabia.
The government has spent over Rs2 billion to win a case in the international court over the acquisition of assets of Progas Pakistan Limited company – worth Rs2.3 billion.
China wants no more damage to Pakistan in bilateral trade which is why the former has offered to re-initiate the stalled talks on Free Trade Agreement-II in February 2018.
Japan, Indonesia, Vietnam, the Philippines in the Pacific region are among the countries in the list to start a dialogue on Preferential Trade Agreement (PTA) which will pave the way towards FTA for promoting trade liberalization.
A Joint Feasibility Group will work to formalize the FTA within six months’ period.
Pakistan and Iran have finalized the draft of the much-awaited Free Trade Agreement and the expeditious resolution of banking channel issues.
The two-day Joint Cooperation Committee (JCC) meeting of the China-Pakistan Economic Corridor sets the stage for the second phase of the multibillion-dollar cooperation between the two nations.
Pakistan has successfully gotten a stay order from the International Centre for Settlement of Investment Disputes (ICSID) over the execution of an $800 million award to Karkey Karadeniz Elektrik Uretim (Karkey).