Lahore: The Ministry of Commerce and Trade Development Authority of Pakistan (TDAP) organized an awareness seminar on the second phase of China Pakistan Free Trade Agreement, on 21 st of January, 2020 at Pearl Continental Hotel, Lahore. The seminar is one of the many from a series of seminars being organized by Ministry of Commerce and TDAP across the country in order to apprise the business community about the trade and export opportunities arising out of the CPFTA-II, which has become operational from 1 st January 2020.
A large number of businessmen and businesswomen from FPCCI, LCCI, women chambers, major trade associations and export sectors of Pakistan including textile, leather, agro food, chemicals industry and engineering attended the seminar. The event was graced by Joint Secretary, Ministry of Commerce, Islamabad, Commercial Counselor of People’s Republic of China, Member National Tariff Commission, President LCCI and Vice President FPCCI (North).
Dr. Muhammad Hamid Ali, Joint Secretary, Ministry of Commerce, Islamabad, welcomed the distinguished guests. Speaking on the occasion, he briefed the audience about the 2nd Phase of CPFTA, which offers an enhanced and deeper market access to Pakistan. He apprised that under CPFTA Phase-II, China has eliminated the tariff on 313 high priority tariff lines of Pakistan’s export interest, providing Pakistan a preferential treatment which is at par with ASEAN. Dr, Hamid Ali also delivered a detailed presentation regarding the various aspects of the CPFTA-II and provided insight on sector wise benefits arising from the FTA. President LCCI, in his remarks, highlighted the significance of China in regional trade and appreciated the opportunities arising out of CPFTA-II. He expressed hope that the FTA will help in the narrowing of trade deficit between Pakistan and China and assured that the industry is willing to collaborate with the Government for making the most of CPFTA-II.
Vice President of FPCCI voiced the need for maximum facilitation for exports and imports from all concerned government departments so that the industry may be able to tap the full potential of the 2nd phase of CPFTA. Ms. Anjum Assad Amin, Member, National Tariff Commission provided detailed information regarding the Safeguard Measures which have been incorporated in the 2 nd phase of CPFTA in order to provide the Pakistani industry a level playing field with Chinese exporters.
Lastly, Mr. Wang Jian, Commercial Counselor of People’s Republic of China, congratulated Pakistan on the successful implementation of CPFTA-II and expressed great hope that it will help in further strengthening of the “all weather” strategic partnership between the two countries.