China will give zero-tariff treatment to more Pakistani products in the free trade agreement

According to Pakistan’s “Dawn” report on April 16, after seven years of negotiations, China finally agreed to give Pakistan market access rights similar to those provided to ASEAN countries in the China-ASEAN Free Trade Agreement. Enter discount.

Daga, the Permanent Secretary of the Ministry of Finance, said that China agreed to give Pakistan immediate zero-tariff treatment for 313 products with tax codes, covering most of Pakistan’s exports to China. According to the agreement, Pakistan will reduce tariffs on 75% of its tax items to zero within 15 years, while China will have 10 years to achieve this goal.

The second phase of negotiations on the China-Pakistan Free Trade Agreement lasted seven years. On April 13, the agreement was initialed by the Permanent Secretary of the Ministry of Commerce of Pakistan and the Vice Minister of Commerce of China. The commerce ministers of both parties will sign the final text of the agreement during Imran Khan’s visit to China at the end of this month. Before that, both parties will also complete the internal approval procedures of their respective governments.

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