FPCCI slams 2nd round of China FTA

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over the second round of free trade agreement (FTA) with China and said it will give more advantage to Chinese exporters, a statement said on Tuesday. “It will result in further closure of Pakistani industries and also significant increase in joblessness,” said Syed Mazhar Ali Nasir, senior vice president of the FPCCI.

The FPCCI is concerned that first round of the FTA resulted in favour of China, where their exports to Pakistan are more than $15 billion and Pakistani exports to China stood around $1.5 billion last year. Nasir proposes that FTA imports should be related to Pakistani exports and China must meet 25 percent imports from Pakistan against their export value to the country.