CPFTA-II will boost bilateral trade, open avenues for joint ventures and facilitate in Chinese technology transfer: Chairman FPCCI

KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) President Daroo Khan Achakzai said China-Pakistan Free Trade Agreement (CPFTA)-II to be operational from December 1, 2019, would attract Chinese investment in all sectors.

The FPCCI chief hoped that the CPFTA-II would be instrumental in enhancing bilateral trade to its optimum potential, exploring new areas of joint ventures, transfer of Chinese technology, broadening and protecting indigenous industries, and improving Pakistan’s trade balance with its counterpart. He recalled that under FTA Part-I Pakistan had benefitted to the tune of only 4.0 percent, whereas the rest was derived by China.

Commenting on the statement of the advisor to the PM on commerce, textile, industries and production and investment published in some section of the newspapers, he clarified that FPCCI always advocated / supported government decisions in the best interest of the business community and flourishing of business environment to make Pakistan economically stable and sound. “Being the apex body of trade and industry of Pakistan, FPCCI has all the capability and expertise to contribute in government efforts in expansion of all economic sectors such as manufacturing, investment, export etc,” he added.

Achakzai said the FPCCI status and its role should not be undermined as it has representation of all members of trade and industry on its board across the country. He also hailed the efforts of the government in the development plan of Balochistan and Khyber Pakhtunkhwa under the China-Pakistan Economic Corridor (CPEC), which would definitely eradicate their economic issues, particularly unemployment and poverty and bring least developed rural areas of Balochistan and KP at par with other parts of Pakistan.