ISLAMABAD: The Ministry of Commerce (MoC) has strongly refuted the news appearing in a section of the press dated January 16, 2018, under the headline ‘Pak-China FTA Phase II talks hit a snag”, according to a press release here on Tuesday.
MoC in a statement refuted the news regarding Pak-China FTA talks and labelled it as misleading and contrary to the facts. The FTA Phase II negotiations between Pakistan and China are progressing smoothly in highly cordial and cooperative atmosphere. Both sides successfully concluded the 8th round led by Commerce Secretary wherein a breakthrough was achieved in the shape of China’s assurances to favourably address Pakistan’s concerns in Phase II.
Pakistan side was able to convince Chinese side to revise the bilateral safeguard chapter of FTA, which would be helpful in protecting the local industry against import surge from China.
Contrary to the impression created, the next round is scheduled in February 2018, in Beijing. The preparatory work for the next round is on track and the two sides are frequently consulting each other to reach a mutually beneficial conclusion. In order to firm up Pakistan’s position, the Ministry of Commerce has held wide-ranged consultations with public and private sector stakeholders, including sectoral associations, chambers and relevant ministries and government departments and in turn, the negotiations with Chinese are moving ahead as planned, the statement added.
It further added that it is unfortunate that an out of context news item has been published by distorting facts which may create misunderstanding. The MoC, therefore, strongly refutes the message conveyed by the news item and urges all the reporters and analysts to exercise caution in such matters of strategic importance, the statement concluded.
