Second phase negotiation of China-Pakistan FTA held in Beijing

APP71-15 BEIJING: September 15 - Federal Secretary for Commerce, Mohammad Younus Dagha and Mr. Wang Shouwen, Vice Minister for Commerce, China are co-chairing the 8th Meeting of 2nd Phase Negotiations of China-Pakistan FTA. APP

ISLAMABAD, Sep 15 (APP): The 8th meeting of 2nd Phase
negotiations of China-Pakistan Free Trade Agreement (FTA) held in
Beijing on September 14-15th, concluded with breakthrough in the
negotiation which was at an impasse over the last few rounds.
The meeting was co-chaired by Mohammad Younus Dagha, Secretary
Commerce, Pakistan and Wang Shouwen, Vice Minister for Commerce,
China, said a press release issued here.
In the last seven rounds, Pakistan had been pleading the case
of restoration of its preference under the FTA which had been eroded
due to subsequent FTAs of China.
Younus Dagha pointed out that the preference on 79% of
Pakistan’s exports to China had been eroded. Pakistan has also been
concerned over not having been able to get meaningful market access
during the first phase of the FTA.
Pakistan had been raising this issue with the Chinese side
time and again during the previous rounds without any consensus to
address these concerns. It was in this back drop, the Secretary
Commerce decided to himself lead the negotiations with the Chinese
Vice Minister as his counterpart.
After two days of negotiations, Chinese side agreed to address
the major concerns of Pakistan side regarding preference erosion for
Pakistani exports and meaningful market access during the 2nd phase.
In this regard Pakistan shared a list around 70 high priority
items of its export interest for immediate market access, which the
Chinese side agreed to consider favourably.
These tariff lines constitute more than 80% of Pakistan’s
current exports to China. The meeting ended with exchange of
pleasantries and a resolve to continue working together to make
China Pakistan Free Trade Agreement a win-win proposition for both
the countries.