Tuesday, October 4, 2022

Pak-China free trade agreement’s 2nd phase to be inked this month

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LAHORE: The second phase of Pakistan-China Free Trade Agreement will be signed in Beijing, during the upcoming visit of Prime Minister Imran Khan to China this month.

This was stated by Advisor to Prime Minister on Commerce and Investment, Abdul Razak Dawood while talking to China Economic Net at the Second International Textile Exhibition in Lahore.

According to Radio Pakistan, Dawood said the best exporters from Pakistan will go with the prime minister to Beijing to connect with their Chinese counterparts, inviting them to relocate to Pakistan.

The agreement on trade in services was signed in Wuhan, China on 21st February 2009. After signing of this agreement, Pakistan has a comprehensive Free Trade Agreement with China covering trade in goods, investments and trade in services.

The objectives of free trade agreement include integration of respective economies of Pakistan and China for mutual benefits. It also comprises providing a predictable investment regime in the services sector especially in infrastructure, computer & related services, educational services, research and development, tourism, sporting services and environmental services like sewage and cleaning services.

The accord also facilitates joint ventures to build the capacity of domestic service suppliers, transfer of technology and creation of new jobs in Pakistan.

 

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