Rawalpindi Chamber Of Commerce And Industry Demands More Awareness Drives For CPFTA-II

Rawalpindi Chamber of Commerce and Industry demands more awareness drives for CPFTA-II

The Second Phase of China Pakistan Free Trade Agreement (CPFTA-II) was a commendable initiative to strengthen trade liberalization and deepen the all-weather strategic partnership between Pakistan and China

RAWALPINDI, (UrduPoint / Pakistan Point News - 18th Jan, 2020 ) :The Second Phase of China Pakistan Free Trade Agreement (CPFTA-II) was a commendable initiative to strengthen trade liberalization and deepen the all-weather strategic partnership between Pakistan and China.

President Rawalpindi Chamber of Commerce and Industry (RCCI), Saboor Malik said this while addressing a awareness seminar organized by the Trade Development Authority of Pakistan (TDAP).

Saboor said Pakistan can increase its export by 1 billion Dollars in short term while the export of these items was likely to touch 4-5 billion dollars in the medium term after setting up new industries in the Special Economic Zones being constructed in Pakistan under China-Pakistan Economic Corridor (CPEC).

He informed that China had eliminated tariffs on 313 products, which was a huge step and great opportunity for the business community of Pakistan.

Tariff lines includes textile, garments, seafood, animal products, prepared food, leather, chemicals, plastic, oilseeds and engineering goods including tractors, auto parts, home appliances, gems and jewelry, cement, footwear, chemicals, plastics, rubber, paper and semi-finish goods. However it mostly includes non-technological goods.

He demanded to facilitate those producers and existing industry of Pakistan who had direct relevance and export potential for exporting products in these 313 items.

He recommended to start the thought process about CPFTA phase 3 which should include highly sophisticated and technological products from Pakistan like Software, Computer Tech, mobiles, electric chips, auto mobiles etc.