FTA-II with China to help increase Pakistan exports: Jawad.

LAHORE -- The second Free Trade Agreement (FTA-II) with China would provide an opportunity to Pakistan to increase its exports

to China by US $ 4 to 6 billion in next three years.

Pakistan Businesses Forum (PBF) Vice President Ahmad Jawad told media here Saturday that after implementation

of the FTA-II, Pakistan has been now allowed to export more than 1,000 products to China with zero duties. The new facility is particularly benefiting the agriculture, leather, confectionery items, and other sectors.

As in the 1st quarter of 2021, Pakistan's exports to China rose to US $ 888 million as compared to US $526 million

during corresponding months of 2020, showing an increase of 69 percent. Pakistan exports to China grew by

17.5 percent reaching US $ 2.12 billion during last year.

Similarly in a major development, Pakistan has won China's approval for meat export after a private sector company established a heat treatment facility to remove virus, if any, from export consignments. As China is the largest

producer as well as importer of US $15 billion meat in the world.

'China has a great demand for meat and poultry, and it can be lucrative international market for Pakistan and both countries must work together for removal of technical barriers like SPS and quarantine requirements,' he added.

In terms of exploring meat export to China, Ahmad Jawad mentioned, Pakistani livestock boasts rich endowment

with the world's 2nd largest herd size of buffaloes, 7th largest of cattle, 4th largest of goats and 12th largest of sheep.

The PBF Vice President said that China and Pakistan had potential for symbiotic trade relations, whereby China

could take advantage of the low-cost production resources available in Pakistan, and Pakistan could benefit from

the technology and financing that China had to offer.

Jawad briefed media men that China had a population of more than 1.3 billion people. The economic growth in the

past three decades had resulted in sustained growth in consumer incomes, consumption and urbanization. This had increased...