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PR No. 97 CPFTA NEGOTIATIONS IN BEIJING Islamabad: 14th September 2017

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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