PCJCCI terms FTA with China favourable for Pakistan
Lahore, May 06, 2019 (PPI-OT): China, under the current Free Trade Agreement, has provided huge opportunity to Pakistan for improving its overall trade performance. It was observed by Mr. Shah Faisal Afridi, President Pak-China Joint Chamber of Commerce and Industry while chairing a review meeting at PCJCCI premises. Mr. Ahmad Hasnain, Senior Vice President and a number of the Executive Committee Members were also attended the meeting. President PCJCCI was optimistic that the FTA coupled with Chinese investment in the specialized economic zones (SEZs) would expand Pakistan’s industrial base and assist diversifying its export basket.
Under the FTA, China has offered Pakistan 90 percent of its market access and in return asked for only 65 percent of Pakistan’s market access for its products, he said and termed it a great opportunity for Pakistan to maximize its share in Chinese market to fill in the existing trade gap. He said that to tap the maximum potential out of the FTA, Pakistan needs a long term and sustainable solution to capturing the Chinese market, and CPEC can be a strong source of enhancing the Pak-China industrial cooperation up to the required level through Special Economic Zones (SEZs) to be established under CPEC.
Mr. Ahmed Hasnain, Senior Vice President PCJCCI speaking on this occasion said, “We look towards the West but factually speaking, the 21st century belongs to Asia. Great business window has been opened for Pakistanis in CPEC further aided by the fresh FTA with China”, said adding that over 60 percent of the Pakistani population was associated with the agriculture sector and the FTA is meant to transfer huge benefits the farmers, as their surplus products are likely to be exported to China, giving them good amount of money in return and providing them an opportunity to improve their methods of cultivation.
Mr. Salahuddin Hanif, General Secretary PCJCCI also expressed his views on this occasion. He observed that the market access did not mean anything, unless we had the production capability to meet the market demand. He informed that PCJCCI office bearers had scheduled awareness sessions with potential businessmen to tell them what kind of opportunities they have, and what products they can produce to tap the Chinese market”.
For more information, contact:
Pakistan China Joint Chamber of Commerce and Industry (PCJCCI)
Mega Tower, 309 – 6th Floor,
Main Boulevard, Gulberg II,
Lahore, Punjab – Pakistan
Tel: +92-42-35777460-02, +92-42-37032203, +92-42-35874353
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