China to accommodate Pakistan’s concerns on trade agreement

BEIJING: The Chinese government has agreed to amend the China-Pakistan Free Trade Agreement (CPFTA) in order to provide Pakistan tariff concessions equal to those for Association of the South East Asian Nations.

The decision was made at the ninth round of negotiations on CPFTA held in Beijing, China.

During the meeting, Commerce Secretary Mohammad Younus Dagha reiterated Pakistan’s demand for tariff concession on exports and urged Chinese authorities to accommodate it into the final draft of CPFTA.

It was also decided in the session that China would discontinue tariff concession on Chinese imports.

Various industries and chambers of Pakistan during pre-negotiation consultations have shown concerns on CPFTA agreement.

The Chinese government accepted Pakistan’s request to incorporate the proposed clauses in the agreement in order to safeguard Pakistani economy from any undue pressure.

The revised agreement is expected to be signed in March during the Chinese vice minister’s visit to Islamabad.