China-Pakistan Free Trade Agreement to promote business: Dawood

LAHORE, May 04 (APP):Advisor to Prime Minister on Commerce, Textile Industry, Production and Investment Abdul Razak Dawood on Saturday said that the second phase of China-Pakistan Free Trade Agreement (FTA) was a great opportunity to benefit from.

He said this while addressing a seminar on ‘Business Opportunities under China-Pakistan Free Trade Agreement’ held at Expo Centre here.

He said, “In July, he will visit Japan, where he will hold talks about Pakistan getting access to Japanese market. Efforts will also be made to access the Korean market.”

Abdul Razak Dawood said that Indonesia had given 20 tariff lines, which would be duty-free. He said a facility of safeguard measures was also available under the FTA to provide protection to local industry from any threats.

Industrial development was vital for increasing exports, he said adding that the industry was heading towards betterment and there was a need to widen our product range.

The advisor said the process for making an industrial policy was under way and prudent policies would help excel in the world market in an efficient way.

Joint Secretary Shafiq gave detailed presentation on China-Pakistan FTA and briefed about the gains of its Phase-II. Federal Commerce Secretary Sardar Ahmed Nawaz Sukhera was also present.