The second phase of China Pakistan Free Trade Agreement (CPFTA-II) has launched from today January 1, 2020.
Under CPFTA’s second phase, Pakistani manufacturers and traders are allowed to export to the Chinese market about 313 new products on zero duty.
Meanwhile, the Federal Board of Revenue (FBR) has granted concessionary rate of customs duty or zero percent duty on the import of 6,786 items from China with effect from January 1, 2020.
For imports of crude oil (Rs 8000/MT), palm stearin (Rs 9050/MT), RBD palm oil (Rs 10800/MT), palm olein (Rs 9050.0/MT), the reduced duty rate, fixed rate or zero percent duty will apply.
For imports of crude oil (Rs 8000/MT), palm stearin (Rs 9050/MT), RBD palm oil (Rs 10800/MT), palm olein (Rs 9050.0/MT), pure breeding animals, goat meat, fish, yogurt, whey powder, butter, dairy spreads, cheese, honey, onions, mushrooms, green tea, black tea, rice, drinks, gold, silver, varnishes, artificial staple fibres, vehicle components, satellite communications equipment, radio navigation equipment, cable TV / satellite receiver components / accessories, energy-saving lamps, cameras, energy-saving tubes, vehicle assembly / manufacturing components in any kit form and other items specified in FBR SRO 1640(I)/2019.