Ministry of Commerce, Government of Pakistan and Trade Development Authority of Pakistan jointly organized 2nd Phase of China Pakistan Free Trade Agreement (CPFTA Phase – II) at Pearl Continental Hotel, Peshawar which was attended by more than 150 members of the Khyber Pakhtunkhwa business community.
In his inaugural address, Mr. Hamid Ali, Joint Secretary, Ministry of Commerce emphasized the need to exploit the opportunities emanating from CPFTA Phase – II that eliminates tariff on 313 tariff lines on Pakistani products, effectively giving us treatment at par with ASEAN.
Chief Guest, Engr. Masood Anwar Pervez, President, SCCI in his address highlighted the potential areas of the province where it enjoys trade advantage and also talked about the issues of the trade community. He appreciated efforts of the Ministry of Commerce and TDAP in arranging the seminar and emphasized the need for proactive approach of our business community to avail the opportunities being extended under CPFTA-II.
Mr. Ghulam Qadir from Ministry of Commerce apprised the business community about importance of the trade agreement. He gave detailed presentation and highlighted that the 313 tariff line cover over US$ 8.7 billion worth of Pakistan's global export and US$ 64 Billon of worth of Chinese global imports. In terms of complete offer by China, over US$ 19 billion of Pakistan's export are covered, which corresponds to US$ 1.6 trillion of the Chinese global imports. Major product lines included in CPFTA Phase-ll are; Textile and garments, seafood, meat and other animal products, prepared foods, leather and chemical plastic, oil seeds, footwear as well as engineering goods including tractors, auto parts, home appliances, machinery etc.
Madam Anjum Asad Amin, Member, National Tariff Commission, Islamabad in her address elaborated benefits originating from CPFTA Phase-II and shared information about the role of National Tariff Commission in the trade agreement. Followed by questions /answer session, Mr. Shehzad Ahmad Khan, Director General, Trade Development Authority of Pakistan, Islamabad thanked the participants for joining the shared efforts to achieve targets of economic development and assured that as per mandate, TDAP will facilitate the business community upto the utmost extent.
Before conclusion, participants of the seminar rose from their seats and observed one minute silence as a symbol of solidarity with Chinese people in the face of Corona-virus crisis.
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