Traders urged to avail opportunities being extended under CPFTA-II
PESHAWAR: The Ministry of Commerce and Trade Development Authority of Pakistan (TDAP) Monday jointly organized 2nd Phase of China Pakistan Free Trade Agreement (CPFTA) where members of the KP business community apprised about the Pak-China export potential to be covered under the agreement. Over 150 business community of Khyber Pakhtunkhwa attended the day-long event. In terms of complete offer by China, over US $19 billion of Pakistan’s export are covered, which corresponds to US$1.6 trillion of the Chinese global imports, said Ghulam Qadir from Ministry of Commerce in his detailed presentation. Apprising the business community of importance of trade agreement, Ghulam Qadir delivered a detailed presentation and highlighted that the 313 tariff line cover over US$8.7 billion worth of Pakistan’s export and US $ 64 billion of worth of Chinese imports. Joint Secretary Ministry of Commerce Hamid Ali has emphasized the need to exploit the opportunities emanating from CPFTA (China Pakistan Free Trade Agreement) Phase-II eliminating tariff on 323 tariff lines of Pakistan’s export interest, giving treatment at par with ASEAN. Speaking on the occasion, Chief Guest Engineer Maqsood Anwar Pervaiz, President SCCI highlighted the potential areas of the province and issues of the trade community. He appreciated efforts of Ministry of Commerce and TDAP in arranging the seminar and emphasized on the need to have proactive approach of the business community to avail the opportunity being extended under CPFTA-II. Major product lines included in CPFTA Phase-II are textile and garments, seafood, meat, prepared foods, leather and chemical plastic, oil seeds, footwear as well as engineering goods including tractors, auto parts, home appliances, machinery etc. Anjum Asad Amin, Member National Tariff Commission Islamabad also elaborated on the benefits originating from CPFTA Phase-II and shared information about the role of National Tariff Commission in the trade agreement. Shehzad Ahmad Khan, Director General Trade Development Authority of Pakistan, Islamabad assured that as per mandate, TDAP will facilitate the business community to the utmost extent. There was a silence observed for one minute by all the participants as a symbol of solidarity with the Chinese at the time of crisis of Corona-virus. - APP