Implementation of Electronic Data Exchange under the second phase of CPFTA will ensure elimination of prevalent misdeclaration and under-invoicing.
With the signing of Phase II of CPFTA, Pakistan has regained its lost ground and now stands on a level playing field with ASEAN countries vis a vis trade with China.
The Government of Pakistan extends its heartfelt gratitude to the Government of People’s Republic of China for granting Pakistan immediate liberalization on 313 tariff lines which constitute USD 64 billion of China’s total exports.
If the Pakistani businessmen succeed in tapping even 10% of this market share, it would result in immediate increase of USD 6 million in Pakistan’s exports.
Pakistan has traditionally looked West for its exports but the future of trade lies in the East- and what bigger economy is there in the East than China. It is for this reason that we at the Ministry of Commerce believe that signing of the Second Phase of CPFTA marks a major milestone in the landscape Pakistan’s trade and economy.