First energy project under CPEC completed: Khurram Dastgir

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ISLAMABAD, Jul 3 (APP): Federal Minister for Commerce, Engr.
Khurram Dastgir Khan chaired a meeting as a guest of honor, between
Pakistan Readymade Garments Manufacturers and Exporters Association
(PRGMEA) & delegation of China Chamber of Commerce for Import and
Export of Textile and Apparel (CCCT).
The commerce minister welcomed Mr. Wangyu, Vice Chairman CCCT
and the rest of the Chinese delegation to Pakistan, said a press
release on Monday.
The minister appreciated the MoU on the Cooperation between
Pakistan Readymade Garments Manufacturers and Exporters Association
(PRGMEA) & China Chamber of Commerce for Import and Export of
Textile and Apparel that included Promotion of Trade and Investment
cooperation, exchange of ideas for developing the sector, organizing
and participating in Fairs, exchange of information and support in
business partner search, visits and events participation, training
and working group arrangements and said that the government of
Pakistan & Commerce Ministry in particular will encourage and
support the cooperation that has begun between the CCCT and PRGMEA.
Speaking on the occasion, the commerce minister said that
while FTA with china is still Pakistan’s best and widest FTA but
still we have noted that since 2006 china has done many more and
wider FTAs with other regions and countries in which, china has
offered deeper concessions to other regions compare to Pakistan.
“On govt. to govt. level we are trying to restore the margin
of preference that Pakistan originally had in 2006 and we urge
through the, CCCT to also speak to the govt. of china that Pakistan-
China FTA requires restoration of Preference”, added Khurram Dastgir
Khan.
Khurram Dastgir Khan cited this as one of the reasons due to
which Trade imbalance between Pakistan and China has increased.
Commerce Minister suggested two major steps as way forward.
“As govt. we are trying our best to address the trade imbalance
through reducing trade barriers and Pakistani govt. will provide
full support in reducing any barriers to the formation of joint
ventures between Pakistani and Chinese companies”, added the
minister.
Minister sought suggestions both from the CCCT and PRGMEA on
how to discuss with Beijing on what form of dispute resolution
mechanism should be adopted and said that we are already in touch
with the embassy of china in Islamabad regarding Visas for business
people.
Minister also informed that on the 3rd of July the first
energy project under CPEC has been completed that is the 1320 MW
electricity plant at Sahiwal.
The Commerce Minister urged that it is important to work hard
in this economic partnership and said that part of that economic
partnership is also to have a knowledge partnership between two
partners.