By Ali Imran
ISLAMABAD: Special Assistant to Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan has said the implementation of the second phase of the China-Pakistan Free Trade Agreement (CPFTA) reflects the everlasting relationship between the two countries.
In a series of tweets posted on Monday, Awan said this arrangement will facilitate Pakistani traders to exports their products to the enormous Chinese market without export duty. Awan noted that the country’s textile sector will benefit the most under this agreement.
In addition, those producing agriculture and leather products, as well as confectionery items and biscuits, will take full advantage of it. Awan said under the FTA, Pakistani traders will get the opportunity to export 313 new products to the Chinese markets.
The two countries have completed all the legal procedures and formalities to start the implementation of the agreement. Pakistan and China signed a protocol for the implementation of the agreement during the last visit of Prime Minister Imran Khan to Beijing. Pakistani traders already enjoy zero duty on the export of 724 products to China under the Free Trade Agreement (FTA) signed between the two countries in 2006.
Meanwhile, Special Assistant to Prime Minister on Information and Broadcasting Dr. Firdous Ashiq Awan on Monday said that upgradation of Pakistan’s outlook to stable from negative by rating agency Moody, showed its confidence in Pakistan’s economic policies.
Taking to the social networking website, Twitter, Dr Firdous said that the upgradation of outlook to stable is an affirmation of improvement in the balance of payments position.
She said that the tough decisions taken by the government’s economic team were bearing fruit. “Exports are rising and imports are decreasing simultaneously,” the special assistant added.
Dr. Firdous said that the current account deficit was shrinking owing to the effective economic policies adopted by the incumbent government.