CPFTA A Game Changer For Increasing Pakistan Exports: Razak Dawood

ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Jan, 2020 ) :Adviser to Prime Minister on Commerce, Industries, Textile and Investment Abdul Razak Dawood on Wednesday said that China Pakistan, Free Trade Agreement (CPFTA) is a game changer for increasing the Pakistan exports and also for maintaining balance of trade with China.

Speaking as the chief guest, the adviser said that CPFTA Phase II could be weighed as better negotiated than the previous phase due to enhanced protection given to businessmen.

The Ministry of Commerce and Trade Development Authority of Pakistan (TDAP) organized here the second of the series of countrywide seminars for apprising the business community of the business and export opportunities arising out of the second phase of CPFTA, which has become operational from 1st January 2020.

Under CPFTA-II China has eliminated tariffs on 313 tariff lines, giving Pakistan benefits at par with those of ASEAN countries.

These 313 items including textiles, engineering, chemicals, leather, food items, meat, and fisheries besides other which comprise the major chunk of exportable items of Pakistan.

The Additional Secretary Commerce briefed the audience about the Phase-II of CPFTA, which offers an enhanced and deeper market access to Pakistan.

He apprised the audience that the Phase-II would help Pakistan in enhancing exports from Pakistan to China in coming years with mutual collaboration of Government and Private Sector.

The President of RCCI, Saboor Malik said that business community was keenly willing to play its role in supporting Government sector for economic development of the country.

He welcomed the CPFTA as a step in the right direction.

The President of ICCI said that Trade cooperation between Pakistan and China is need of the hour.

He said that CPFTA was a monumental agreement and its application in letter and spirit would help both China and Pakistan in realizing the true trade potential.

He also urged the business community for increased value-addition to exports.

Joint Secretary, Ministry of Commerce, Dr. Muhammad Hamid Ali delivered a detailed presentation covering almost all relevant product areas and other aspects of CPFTA.

He enlightened the audience about benefits which would be accrued out of this arrangement.

A large number of businessmen from Rawalpindi Chamber of Commerce Industry (RCCI), Islamabad Chamber of Commerce and industry (ICCI) , Islamabad Women Chambers, major trade associations and export sectors of Pakistan including agro-food, gemstones, jewellery, marble and stone, chemicals etc. attended the seminar.