Free Trade Agreement China And Pakistan
v. Electronic data exchange: In order to avoid misrepresentation and imputation of imports from China, an electronic data exchange system for trade was implemented under the Phase I Free Trade Agreement – Tariff Reduction Modality of China, which took place on 9 April in Beijing, the 11th phase of the negotiation of the China-Pakistan Free Trade Agreement. Wang Shouwen, China`s Vice Minister of Trade and Vice-Representative for Trade, met with delegations led by Sukhera, Pakistan`s Minister of Trade, and Mr. Dagha, Minister of Finance, respectively. The two sides have held extensive consultations on issues such as tariff reductions, investment and customs cooperation, and have made positive progress.  In fiscal year 2017-18, the volume of trade between China and Pakistan amounted to $13.2 billion, or 16.4% of Pakistan`s trade volume. Chinese President Hu Jintao and his Pakistani counterpart Pervez Musharraf on Friday monitored the signing of a free trade agreement between the two allies here in Islamabad on November 24, 2006. The document was signed by the trade ministers of both countries. This round of review of the CPFTA expands and diversifies business opportunities for businesses on both sides while maintaining fair and equitable protection of local industrial interests.
In addition to our practices in India and Russia and in our commercial research centres along the Belt-Road initiative, we also have subsidiaries that support foreign investors in Vietnam, Indonesia, Singapore, the Philippines, Malaysia and Thailand. These concessions have great benefits for both China and Pakistan`s trade development; It provides China with access to important agricultural, textile and engineering products to meet the needs of its growing middle class while enabling Pakistan to improve its export competitiveness and improve its industrial production. This is in line with China`s free trade agreements with New Zealand, Peru, Costa Rica, Switzerland, Iceland, Singapore, Australia, South Korea, Georgia, Chile and Pakistan, as well as the Asia-Pacific trade agreement. The agreement contains articles relating to the establishment of the free trade area, objectives, relations with other agreements, the application of this agreement, definitions, scope and coverage, national treatment, removal of tariffs, paratarifs and non-tariff barriers, rules of origin, trade remedies, safeguards, health and plant health measures , THRs, investments, dispute resolution, amendments, annexes, etc. The volume of trade resulting from an agreement between the two states amounted to $13 billion in 2013 and reached $20 billion in 2017, when the two countries signed 51 agreements and protocols for cooperation in various areas.  China had already made a significant contribution to Pakistani imports prior to the signing of the free trade agreement and improved considerably after the implementation of the free trade agreement in 2007. Until 2012, it was the source of 15% of Pakistan`s total imports from the world, up from 9.8% in 2006.   3.