BEIJING: The second phase of China-Pakistan free trade agreement (FTA) is scheduled to be signed here during Prime Minister Imran Khan’s forthcoming visit to China, Advisor to Prime Minister on commerce, textile, industry and production, and investment, Abdul Razak Dawood said.
During the Second International Textile Exhibition in Lahore, he told China Economic Net that the second phase of agreement between the two countries will be signed in Beijing this month.
When asked about what else China could do to balance China-Pakistan trade and promote Pakistan’s exports to China, Razak Dawood indicated that Pakistan hopes China can provide more support to promote industrialization and agricultural technology development in Pakistan.
“At the end of this month, the best exporters from Pakistan are going with the Prime Minister to Beijing with the idea of connecting with the Chinese business people, inviting them to relocate to Pakistan and allocate resources reasonably.
The investment of Chinese enterprises could be the most effective way of cooperation between China and Pakistan under the present international trade environment,” Razak Dawood added.
It is known that textile industry accounts for 60 percent of Pakistan’s total exports, and Pakistan is one of the few countries in the world with a complete textile value chain.
The first International Textile Exhibition in Pakistan was held in 2016 and became the first professional exhibition in Pakistan’s history.