Free Trade Agreement China Pakistan

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Free Trade Agreement China Pakistan

The amending protocol, also known as Phase II of the CPFTA, aims to deepen china-Pakistan trade relations by strengthening merchandise trade liberalization, securing domestic industry mechanisms, and facilitating the international balance of payments and electronic data exchange. This round of CPFTA revisions expands and diversifies trade opportunities for businesses on both sides, while preserving fair and equitable protection of local industrial interests. The China-Pakistan Free Trade Agreement is an important free trade agreement signed between the People`s Republic of China and Pakistan. [1] [2] [3] [4] It was completed in 2006 and entered into force in July 2007. We also maintain offices to support foreign investors in Vietnam, Indonesia, Singapore, the Philippines, Malaysia and Thailand, in addition to our practices in India and Russia and our business research centers along the Belt & Road Initiative. A second phase agreement is being negotiated between China and Pakistan. The second phase will further reduce tariffs and standardize various trade procedures. [8] [to be updated] China Briefing is written and produced by Dezan Shira & Associates. The practice supports foreign investors in China and has had offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen and Hong Kong since 1992.

Please contact the support company in China at china@dezshira.com. These concessions bring many benefits both to China and to Pakistan`s trade development; It provides China with access to important agricultural, textile and mechanical goods to meet the needs of its growing middle class and enables Pakistan to improve its export competitiveness and improve industrial production. v. Electronic data exchange: In order to avoid misrepresentation and under-invoicing of imports from China, an electronic data exchange system has been set up under the Free Trade Agreement. and adds a new chapter on customs cooperation. Chinese President Hu Jintao and his Pakistani counterpart Pervez Musharraf on Friday oversaw the signing of a free trade agreement between the two allies here in Islamabad on November 24, 2006. The document was signed by the trade ministers of both countries. In the 2017-2018 fiscal year, the volume of trade between China and Pakistan amounted to $13.2 billion, or 16.4% of Pakistan`s trade volume.

The volume of trade resulting from the agreement between the two countries amounted to $13 billion in 2013 and reached $20 billion in 2017, when the two countries signed 51 agreements and memoranda of understanding (MoUs) of cooperation in various fields. [5] China had already contributed significantly to Pakistani imports before the signing of the free trade agreement and had experienced a considerable improvement in its ranking after the implementation of the free trade agreement in 2007. . .