Significance of China-Pakistan Free Trade Agreement II (CPFTA Phase– II)

PESHAWAR: Ministry of Commerce and Trade Development Authority of Pakistan jointly organised a seminar on the 2nd phase of China-Pakistan Free Trade Agreement (CPFTA Phase– II) here on Monday.

A communication said that over 150 members of the Khyber Pakhtunkhwa business community attended the event. In his address, Joint Secretary Ministry of Commerce Hamid Ali emphasised the need to exploit the opportunities emanating from CPFTA Phase–II that eliminates tariff on 313 tariff lines on Pakistani products. The chief guest, Engr Masood Anwar Pervez, who is also SCCI president, highlighted the potential areas of the province where it enjoys trade advantage and also talked about the issues of the trader community. He appreciated efforts of the Ministry of Commerce and TDAP in arranging the seminar and stressed the need for a proactive approach by the business community to avail the opportunities being extended under CPFTA-II. Ghulam Qadir from the Ministry of Commerce apprised the business community about the importance of the trade agreement. He gave a detailed presentation and highlighted that the 313 tariff line covers over US$ 8.7 billion worth of Pakistan’s global export and US$ 64 billion worth of Chinese global imports. Madam Anjum Asad Amin, member National Tariff Commission Islamabad, in her address elaborated benefits originating from CPFTA Phase-II and shared information about the role of National Tariff Commission in the trade agreement.

After the question-answer session, Director General, Trade Development Authority of Pakistan Shehzad Ahmad Khan thanked the participants for joining the shared efforts to achieve targets of economic development and assured that as per mandate, TDAP would facilitate the business community up to the utmost extent. Before conclusion, participants of the seminar rose from their seats and observed one-minute silence as a symbol of solidarity with Chinese people for the Coronavirus crisis the country is faced with.