China ready to extend maximum concessions to Pakistan

ISLAMABAD: Chinese Ambassador Yao Jing said on Tuesday that Beijing would be ready to extend maximum trade concessions to Islamabad in next round of Free Trade Agreement (FTA) for promoting trade share of Pakistan out of total $10 trillion imports of goods and services requirement of China on annual basis.

“We are ready to provide all out maximum concessions to Pakistan in next round of talks under revised FTA in terms of tariff and non-tariff barriers scheduled to be held in Beijing in first week of February this year.

Pakistan’s minister for commerce has identified commodities such as maize, vegetables, textiles, seafood and etc and China would love to buy these products from Pakistan,” Chinese Ambassador Yao Jing said while addressing a press conference along with Minister for Commerce Pervez Malik and Secretary Commerce Younus Dagha here on Tuesday. The Chinese ambassador said China looks forward for extending special incentives to Pakistan because Beijing does not want to hinder your industry. “We are open to extend all out support to Pakistan. We will also relax visa for businessmen. We will continue liaison meeting with chambers and offered let’s start concrete cooperation,” he added.

Pakistan’s Federal Secretary Commerce Younus Dagha said that Pakistan was looking for market access and tariff reduction as being provided to ASEAN countries. To a query, the Chinese ambassador replied that they were not facing Pakistan’s specific problems on quality of goods. He said that China was importing $10 trillion goods and services and Pakistan could get its shares out of total imports.

The Chinese ambassador said that he made a courtesy call on Pakistan’s minister for commerce here at his office as he had assumed his slot two months back. He said that China was keen for expanding trade cooperation in order to improve imbalance on trade front. On behalf of Chinese government, he said, “We both were closest friends.

He said that the trade balance had worsened between the two sides as imports from China increased because of China Pakistan Economic Corridor (CPEC) as machinery imports went up,” but reminded “it would be short term phenomena”. He said that the CPEC would result into slashing down cost of production and expand industrial base of the country thus exports would get boost and trade would be increased. Pakistan, he said, possessed special position and China extended invitation to participate into Shanghai expo scheduled to be held from November 5 to 10, 2018.