ISLAMABAD: Minister for Law and Justice Zahid Hamid told the National Assembly Wednesday that Pakistan and China were negotiating the second phase of Pak-China Free Trade Agreement.
Zahid Hamid, who spoke on behalf of the commerce minister, said that Pakistan had shared its concerns regarding adverse impact of cheap imports from China on the local industry.
He said both sides were working to find an amicable solution which adequately addresses the genuine concerns of both the countries.
He also expressed the hope that transit, bilateral and regional trade under China-Pakistan Economic Corridor would increase in future which would have a positive impact on Pakistan’s economy.
Answering a question, the maw minister said that Pakistan’s exports to UK had increased by about 40 per cent since 2013.
He said as UK negotiated its withdrawal from the European Union, GSP Plus facility in UK was likely to remain available for Pakistani exporters for another two years.
He pointed out that UK was a leading trade partner of Pakistan and Pak-UK bilateral trade stood at 2.06 billion euros in 2015.
He said that Pakistan was also in the process of negotiating a free trade agreement with UK to enhance bilateral trade.
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