- ‘China has agreed to give concession on more than 300 tariff lines’
ISLAMABAD: Pakistan would export $1 billion worth sugar and rice to China during the current fiscal year, said Advisor to Prime Minister on Commerce Abdul Razaq Dawood.
He said that all arrangements with China in this regard have been finalised, adding that the Pakistani businessmen would export 0.35 million tonnes of rice and 0.25 million tonnes of sugar.
“We have asked the Chinese authorities to also import tomato, wheat and yarn from Pakistan. The Chinese side is working on this and hopefully, we will soon receive good news in this regard,” he added.
Dawood said that this $1 billion export would be separate from the Free Trade Agreement (FTA), adding that Pakistan would now be able to take advantage of the concessions from China, which it had given to Bangladesh, Vietnam and India and ASEAN countries.
“The government will not give any subsidy on the export of the said products to China,” he mentioned.
Last week, Pakistani and Chinese trade officials held negotiations on FTA-11 in Beijing where they discussed the important matter pertaining to reduction in tariffs for Pakistani products.
A commerce ministry official told this scribe that China has agreed to give concession on more than 300 tariff lines (earlier it was giving no concession on 57 tariff lines).
“Both countries will finalise the FTA on April 2, 2019, during the visit of the commerce secretary to China. The prime minister will subsequently announce the FTA during his visit to China,” he added.
The official said that the Pakistani businessmen could export sugar, rice and yarn to China on first cum first serve basis, adding that the Chinese authorities would directly contact with the traders for the export of the said items.
It is pertinent to mention that Pakistan and China held 11 sessions on FTA-11 in the last seven years. Pakistan was repeatedly asking for concessions, which China has given to Bangladesh and other countries.