Pakistan’s Exports Improved Under China-Pakistan FTA, Reach $15.6 bn
According to official sources, Pakistan's exports have grown from $575 million (FY07) to $1.85 billion (FY19). And the bilateral trade under CPFTA also increased from US$4 billion to $15.6 billion respectively. The implementation of CPFTA expanded economic and trade ties between China and Pakistan tremendously. According to statistics of Pakistani customs, for the past five years, China is Pakistan's biggest trade partner and the second export destination country besides being the largest source of Foreign Direct Investment (FDI) for six consecutive years.
ISLAMABAD: China, Pakistan Free Trade agreement (CPFTA) has appeared to be a milestone in the two countries’ bilateral economic cooperation, as their bilateral trade has jumped to $15. 6 billion in the recent Years.
According to official sources quoted by China Economic Net on Friday, within the first phase of CPFTA, Pakistan’s exports to China have increased to $1.85 billion (FY19) from $575 million (FY07), and the bilateral trade volume has jumped from around US$4 billion to $15.6 billion accordingly.
The CPFTA was signed in 2
Pak-China trade jumps to $15.6b under FTA
ISLAMABAD (INP): China, Pakistan Free Trade agreement (CPFTA) has appeared to be a milestone in the two countries’ bilateral economic cooperation, as their bilateral trade has jumped to $15. 6 billion in the recent Years.
According to official sources quoted by China Economic Net on Friday, within the first phase of CPFTA, Pakistan’s exports to China have increased to $1.85 billion (FY19) from $575 million (FY07), and the bilateral trade volume has jumped from around US$4 billion to $15.6 billion accordingly.
The CPFTA was signed in 2006 and came into effect in 2007. It is the first FTA China signed with South Asian countries.
The signing and implementation of the CPFTA has led to the rapid development of bilateral economic and trade relations. According to the statistics of Pakistani customs, so far, China has been Pakistan’s largest trade partner and the second export destination country for 5 consecutive years, and topping the FDI original country for 6 consecutive years.
Along with the constant upward trend of the China-Pakistan trade, a rising concern on trade deficit with China has been echoing in the Pakistani business communities.
006 and came into effect in 2007. It is the first FTA China signed with South Asian countries.
The signing and implementation of the CPFTA has led to the rapid development of bilateral economic and trade relations. According to the statistics of Pakistani customs, so far, China has been Pakistan’s largest trade partner and the second export destination country for 5 consecutive years, and topping the FDI original country for 6 consecutive years.
Along with the constant upward trend of the China-Pakistan trade, a rising concern on trade deficit with China has been echoing in the Pakistani business communities.
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