Revised FTA with China to help improve Pakistan’s trade balance: Planning Commission

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By Muhammad Luqman
Planning Commission of Pakistan believes that the revision of Free Trade Agreement (FTA) between Islamabad and Beijing , the trade balance between the two countries will be improved in the favour of Pakistan which is presently other way round.
“ With cooperation in agriculture sector, Pakistan have an opportunity to export agricultural products including grains, cotton, sugar, fresh vegetables, and fruits to China,”, said Sartaj Aziz , Deputy Chairman , Planning Commission while talking to Chinese journalists in Islamabad.
China Pakistan Economic Corridor (CPEC) is the flagship project of OBOR and is being actively pursued due to commitment of leadership of both countries.
The investment value of first phase of CPEC projects has reached to over US$30 billion while overall investment has exceeded $60 billion, Sartaj Aziz said , adding that the Long Term Plan of CPEC was approved by the Joint Coordination Committee on CPEC last week which would provide new foundations to Pak-China relations.
He said Long Term Plan of CPEC is an important element of Pakistan’s proposed 12th five years plan.
Sartaj Aziz said, due to construction of CPEC routes, the less developed areas of the country would enter a new era of development.
He said the establishment of nine industrial zones under CPEC would bring industrial revolution in the country and not only industrialists from the two countries but from across the world would be able to establish their industries in the zones.
Sartaj Aziz said that the government has formulated a very liberal investment policy to promote foreign direct investment in the country.

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