Islamabad – The 9th meeting of the 2nd Phrase of China-Pakistan FTA was held in Beijing on February 7-8. Vice Minister of Commerce Wang Shouwen and Pakistan Secretary Commerce Mohammad Younus Dagha co-chaired the meeting. The two sides held in-depth talks on trade in goods, bilateral safeguard measures, customs cooperation and agreement text. Positive progress has been made. They agree to finish the 2nd phrase of negotiations as soon as possible so as to benefit business of both sides quickly.
Pakistan is an important country along the Belt and Road route and China’s major trade and economic partner in South Asia. China-Pakistan FTA was signed in 2006, coming into effect in 2007. The bilateral trade value has soared to US$20.09 billion in 2017 from US$5.25 billion in 2006. To further improve trade liberalization and facilitation, the two sides launched the 2nd phrase of negotiation in 2011.