FTA-II a harbinger of strong China-Pakistan trade relations and savior of the economy
China Pakistan trade relations are set to touch new heights after the signing of FTA-II. Under FTA-II, Pakistan has been given duty-free access by China for 3,707 i.e 45% tariff lines. Moreover, by 2030, a further 30% of tariff lines will have duty-free access by 2030. Tariffs on 412 tariff lines will be reduced by 20% in five years while tariffs will remain at base year (2013) levels for 1,867 (20%) tariff lines. Pakistani exporters will now be able to tap the $2 trillion Chinese import market which will have a great impact on the economic uplift of the country. As for the new export markets for Pakistani traders are concerned, they will get access to the export of machinery, mechanical appliances, electrical equipment, and parts, mineral fuels, optical, photographic and surgical equipment, plastics, vehicles, and essentials. Moreover, communication links of Pakistani traders with Chinese traders will be further strengthened under FTA-II.