ISLAMABAD: The 10th Round of Phase II China-Pakistan Free Trade Agreement (CPFTA) was held in Islamabad on 2nd April, 2018.
The session was co-chaired by Ministry of Commerce of China Vice Minister, Wang Shouwen, and Ministry of Commerce of Pakistan Secretary Mohammad Younus Dagha, with the objective to negotiate the tariff reduction modalities before concluding the Phase II of CPFTA.
Both sides exchanged their offer and request lists in a candid and cooperative manner and reached consensus on many issues.
Moreover, in a bid to curb misdeclaration of goods and under invoicing, both sides agreed to implement the Electronic Data Exchange (EDE) system by 30th April, 2018. Both sides further agreed to consider establishing mutually agreed mechanism to effectively address discrepancies found in exchange information.
In the end, Pakistan and China vowed to continue negotiations in future to address each other’s concern before concluding Phase II of CPFTA.
