‘Second phase of Free Trade Agreement with China to become effective from December’
ISLAMABAD: Adviser on Commerce Razak Dawood on Friday said the second phase of Free Trade Agreement (FTA) with China will become effective from December 1.
Addressing a news conference in Islamabad, he said the FTA was signed with Beijing in April this year and it usually took a year’s time to make such an agreement operational. However, because of special relationship with Pakistan, the Chinese side had agreed to make the FTA operational before time.
The Adviser said that negotiations are continuing with the Chinese side to export Pakistani agri products to their market.
Razak Dawood said that an international conference on textiles is being held in Lahore on Monday. About thirty five Chinese companies will be attending the conference.
He said the security situation stands improved in the country and we are ready to give tax benefits to the investors to invest in Pakistan.
On Sept 18, Prime Minister Imran Khan had expressed the hope to attract the private sector from China to relocate industry in Pakistan.
“The Board of Investment, the Ministry of Investment and we all are trying to create ease of doing business in Pakistan. We are also trying to bring cost of doing business down in the country in a bid to attract large investments,” Imran Khan had said while addressing a ceremony in Islamabad after performing groundbreaking of Prefabricating Housing Project in Islamabad. A large number of Chinese businessmen were present on this occasion.
He had said we know Vietnam had benefitted from relocation and Cambodia was trying to attract relocation of industry into its country.
PM Imran had said agriculture and prefab housing were two important sectors in Pakistan. Once we could raise productivity in agriculture, we could reduce poverty in rural areas, he had added.