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Pakistan, China to sign FTA soon

Pakistan, China to sign FTA soon

BEIJING: The second phase of China-Pakistan free trade agreement (FTA) will be signed during Prime Minister Imran Khan’s forthcoming visit to China this month, according to China Economic Net.

Quoting Advisor to Prime Minister on Commerce, Textile, Industry and Production, and Investment Abdul Razak Dawood, it reported that China might provide more support to promote industrialization and agricultural technology development in Pakistan.

“At the end of this month, the top exporters from Pakistan are going with the prime minister to Beijing with the idea of connecting with the Chinese business people, inviting them to relocate to Pakistan and allocate resources reasonably,” the advisor stated. “The investment of Chinese enterprises could be the most effective way of cooperation between China and Pakistan under the present international trade environment,” he added.

It is known that the textile industry accounts for 60pc of Pakistan’s total exports, and the country is one of the few countries in the world with a complete textile value chain.

The first International Textile Exhibition in Pakistan was held in 2016 and became the first professional exhibition in Pakistan’s history.