Pak delegation to visit Beijing for FTA negotiations in April
27 Mar '07
1 min read
Prime Minister Shaukat Aziz will visit Beijing between April 17-19, 2007, during which Free Trade Agreement (FTA) will be discussed.
China-Pakistan FTA is supposed to come into effect from July 1 this year. Notifications have been issued by both nations, which are now trading under early harvest program (EHP).
Pakistan will extend zero percent duty concession on 2,423 Chinese goods, 0-5 percent concession on 1,339 other products, 50 percent margin of preferences on 157 items and 20 percent of the same on 1768 items.
China has agreed to extend zero percent duty concession on 2,681 local products, maximum five percent concession on 2,604 items, 20 percent margin of preferences of prevailing tariffs on 529 items and 50 percent margin of preferences of same on 604 items under the FTA, from Pakistan.
However, under Islamabad's 'No Concession List', China is prohibited from exporting 1,024 items including polyester, raw materials and home electricals to Pakistan. It will be unable to export another 92 goods under Exclusion List.
A meeting of Joint Study Group on economic co-operation is also planned in Beijing during Aziz's visit. Joint Secretary FT Wing Shahid Bashir will lead a delegation of seven representatives of Pakistani Government to take part in this meeting.