ISLAMABAD: Pakistan likely to get $400 million monthly export enhancementrelief from China which would amount to near $5 billion annually under newFree Trade Agreement deal.
The Chinese government has finally offered Pakistan market access similarto that offered to countries of Association of South East Asian Nations(Asean) after seven years of negotiations.
According to Secretary Finance Mohammad Younus Dagha, the Chinesegovernment has agreed to immediately reduce duties to zero per cent on 313tariff lines.
Dagha led the technical team in the negotiations in his previous assignmentas commerce secretary, and says he sought to secure market access to Chinaon the pattern of the Asean economies.
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“We successfully got the best possible gains for Pakistan”, the secretaryclaimed while talking to Dawn.
Pakistan and China have concluded the second phase of China-Pakistan freetrade agreement (FTA) after seven years of talks. The protocol wasinitialled by current Secretary Commerce Ahmad Nawaz Sukhera and ChineseVice-Minister on April 13 in Beijing.
