8th round
of China-Pakistan Free Trade Agreement negotiations (second phase) started in
Beijing on 14thSeptember, 2017. The Pakistani delegation is headed
by Mr. Mohammad Younus Dagha, Secretary Ministry of Commerce Pakistan, while
the Chinese side is led by Vice Minister Wang Shouwen, Ministry of Commerce,
China. Furthermore Chinese delegation consists of representatives of seven
government Ministries and departments, says a press release received from, says
a press release received from Beijing here today.
Welcoming the guests, Vice Minister
expressed his desire to further strengthen economic and trade cooperation
between the two countries.
He said that China is now the largest
trading partner of Pakistan and after the conclusion and implementation of
China-Pakistan Free Trade Agreement (CPFTA), Pakistan will be able to expand
its exports to China as the domestic consumption demand of China, with a
population of 1.3 billion, is expanding exponentially.
In his opening remarks, Mr. Dagha said that the current volume of trade between Pakistan and
China of US$16 billion is a testimony to the ever growing economic
co-operation. The Secretary Commerce stated that the benefits of CPEC and CPFTA
shall be shared equitably by the two countries and should be a win-win
proposition for both sides. He stressed the need for addressing growing trade
imbalance and visa facilitation for Pakistani businessmen visiting China.
The first phase of CPFTA was signed in
2006 and became operational the following year. Major areas under discussion
during the 8th CPFTA are Trade in goods, Trade in services and
investment opportunities. Ambassador of Pakistan to China Masood Khalid was
also present on the occasion.
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