国际英语资讯:Spotlight: Pakistan set for economic jumpstart under second phase of CPEC_时事

国际英语资讯:Spotlight: Pakistan set for economic jumpstart under second phase of CPEC

In this regard, a business council has recently been established by the government of Pakistan and through the investment-friendly policies which are in the offing, the business community would be able to establish the joint working groups with the business community of other countries including China which will create an inclusive win-win ambiance for the entrepreneurs.

In order to improve Pakistan's overall trade performance, China has offered Pakistan export concession on 313 new items under the second phase of the free trade agreement (FTA) between Pakistan and China signed during Prime Minister Imran Khan's visit to China in April this year.

The agreement came into effect on Sunday under which Pakistani manufacturers and trader will be able to export 313 new products on zero duty to the Chinese market.

Sheikh Amir Waheed, the chief executive officer of the AW Group of Industries and former president of Islamabad Chamber of Commerce and Industry, said the inclusion of a list of 313 items in the FTA, which include commodities from agriculture, textile goods, leather and other wide range of goods is a positive step taken in the right direction considering Pakistan's current financial hurdles to pay off external debt. It is a testimony to the fact that China wants to make Pakistan's economy sustainable, independent and long standing.

"This is a humongous opportunity for the Pakistani traders to tap the huge market of China which is now brewing with new openings for the entire world," Waheed told Xinhua, adding that Pakistan can now enhance its exports to China and thus mitigating the existing huge trade deficit between both countries.