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Pak, China agree to implement FTA

Discussion in 'Pakistan Economy' started by AgNoStiC MuSliM, Sep 13, 2009.

  1. AgNoStiC MuSliM

    AgNoStiC MuSliM PDF Veteran

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    Pak, China agree to implement FTA


    Updated at: 2200 PST, Saturday, September 12, 2009
    BEIJING: After completing all procedures for entry into force, China and Pakistan have exchanged diplomatic notes on the Free Trade Agreement on Trade in Services. The Agreement will come into effect on October 10, this year.

    The FTA on Trade in Services was signed by Pakistan and China during President Asif Ali Zardari’s visit to Wuhan in February. The diplomatic notes were exchanged by Secretary Commerce Suleman Ghani and Chinese Assistant Commerce Minister Wang Chao, the diplomatic sources told APP Saturday.

    Secretary Suleman Ghani and Wang Chao co‑chaired the opening ceremony of the first meeting of the Trade Commission.

    They expressed full satisfaction on successful implementation of FTA which had been operative since July 2007.

    Pakistan’s Ambassador to China, Masood Khan, also attended the meeting.

    Senior Joint Secretary Shahid Bashir and Deputy Director General Zhu Houng addressed the technical issues in defining FTA’s regime which covers goods, investment and services.

    The two sides also tried to address issues to refine procedures for visa facilitation and dissemination of information.

    Both sides expressed satisfaction that the international financial crisis had not affected Pakistan‑China trade which stood at US $ 6.9 billion in 2008.

    Pakistani and Chinese officials said to get full advantage of FTAs all out efforts would be made to explore investment in the manufacturing sectors in Pakistan with buy‑back arrangement.

    Pak, China agree to implement FTA
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    A free trade agreement with China when even negotiations on a bilateral investment treaty with the US have remained stalled, and the possibility of a FTA between the US and Pakistan has been shot down by US officials in two administrations now.

    Heck, even the ROZ's to help combat poverty and increase employment opportunities in the Tribal belt to counter terrorism are still stuck up.

    And some Americans wonder why Pakistan has more cordial relations with the Chinese - no substitute for loyalty and sincerity.
     
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  2. Righteous_Fire

    Righteous_Fire ELITE MEMBER

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    Nice! Some good news in a long while :rolleyes:

    I hope, that it does not end as a one way Trade Agreement :disagree:

    I hope both Chinese and Pakistani Traders and exporters can enjoy the benefit of this TA. There is huge potential between the two.

    Keeping in mind that we can learn ALOT from our Chinese brothers including the fact that very soon China is gonna surpass the Japanese economy!!.

    Keep it up China !! :smitten::china:

    and Join Up Pakistan !! :pakistan:
     
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  3. WarProfessor

    WarProfessor FULL MEMBER

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    The latest news I've heard is China is worried about the trade imbalance between the two countries, and encourage Chinese to import from Pakistan with state sponsored subsidy. I don't know how well that goes. I guess that's why they are trying to switch to their local currencies to trade instead of Dollar.
     
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  4. Omar1984

    Omar1984 ELITE MEMBER

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    Great news. This Free Trade Agreement between Pakistan and China can bring huge benefits to both brotherly nations.

    :pakistan::china:
     
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  5. SinoIndusFriendship

    SinoIndusFriendship BANNED

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    This is good, any attempts to 'isolate' Pakistan from the world will fail when China is supporting Pak! :)
     
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