PBC expects $3.3b rise in Pakistan’s exports to China

[BHarwana]

The commerce ministry had sought PBC’s input before the next round of FTA talks as Pakistan was trying to win greater market access to China in an effort to reduce its growing trade imbalance. PHOTO: FILE

KARACHI: The Pakistan Business Council (PBC) has projected that Pakistan could export an additional $3.3 billion worth of goods to China if the country manages to get tariffs reduced to zero on certain goods under a free trade agreement (FTA).

In this regard, the PBC – a business policy advocacy group – has shared a list of top 25 products with the Ministry of Commerce, suggesting the government needs to secure zero tariff on these goods in negotiations with China on the second phase of the FTA.

The assessment of export potential does not take into account freight costs, marketing channels in the export market and consumer preferences among others.

According to the PBC, Pakistan can increase exports of rice, textiles, seafood, footwear and leather products to China.The commerce ministry had sought PBC’s input before the next round of FTA talks as Pakistan was trying to win greater market access to China in an effort to reduce its growing trade imbalance with its giant neighbour.




https://tribune.com.pk/story/1617165/2-pbc-expects-3-3b-rise-pakistans-exports-china/

 

[Thanatos]

Thats excellent news. They should finalize FTA asap. So that investors could take advantage of a neighboring country in balancing the trade deficit with China.