Prime Minister, Imran Khan and his delegation have concluded a successful visit to China, roping in a number of free trade agreements.
11 free trade agreements on a broad spectrum of sectors have been signed between Pakistan and China, Advisor to Prime Minister on Commerce, Textile, and Industry Abdul Razak Dawood told the media.
The agreements and MoUs come under the second phase of the Pak-China Free Trade Agreement (FTA), following which Pakistan will also get duty-free access to Chinese markets.
Abdul Razzak also informed that a number of investors were eager to invest in Pakistan. In addition to chemicals, railways, agriculture, and IT the two countries agreed on increased cooperation in the Film and TV industry as well.
Special Advisor to PM on Information and Broadcasting, Dr Firdous Ashiq Awan hailed the signings, saying:
“For the first time, a leader is talking for the interest of his country and people at an international level, unlike previous rulers who visited abroad for their personal and business interests.”
Some of the MoUs include:
- Establishment of Havelian dry port under CPEC
- Upgradation of Karachi-Lahore Peshawar (ML-1) railway track.
- Cooperation in Marine Sciences between the Ministry of Science and Technology and China Geological Survey (CGS), Ministry of Natural Resources of China and the Institute of Oceanography.
- China-Pakistan Economic and Technical Cooperation Agreement.
- The license agreement between KPEZMDC and CRBC.
- Rashakai SEZ Joint Venture.
- MoU between CIDCA and Ministry of Planning, Development, and Reform on Implementation of the Projects under JWG of CPEC.
The latest pool of signings once again validate the time-tested friendship of the two countries.