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2nd phase of FTA with China to bring more trade, investment opportunities
Chinese Premier Li Keqiang receives Prime Minister Imran Khan at Great Hall of the people in Beijing on 8th October, 2019

2nd phase of FTA with China to bring more trade, investment opportunities

ISLAMABAD: The leaders of Pakistan and China on Tuesday agreed that the implementation of the 2nd phase of China-Pakistan Free Trade Agreement (FTA) would lead to more trade, economic and investment opportunities between the two countries.

Other areas of potential collaboration discussed between the two sides included railways, steel, oil and gas, industry and science & technology.

Prime Minister Imran Khan held wide-ranging bilateral talks with Chinese Premier Li Keqiang at the Great Hall of the People in Beijing on Tuesday.

The exchange of views particularly covered strengthening of bilateral economic partnership, says a press release received here today from Beijing (China). On his arrival, the Prime Minister was presented a guard of honour, accompanied by 19-gun salute.

The Foreign Minister, Minister of Planning, Development and Reform, Minister of Railways, Advisor on Commerce, Special Assistant to Prime Minister on Energy, and Chairman BOI, Chief of Army Staff, DG ISI, and other senior officials were present.

The bilateral talks were followed by a banquet hosted by Premier Li. Extending felicitations on the 70th Anniversary of the founding of the People’s Republic of China, the Prime Minister underscored that the All-Weather Strategic Cooperative Partnership between Pakistan and China served the fundamental interests of the two countries and peoples and contributed to peace, development and stability in the region.

Prime Minister Imran Khan emphasized that expeditious completion of CPEC projects was the foremost priority of his government as this transformational project was pivotal to accelerating Pakistan’s economic development and regional prosperity.

Premier Li was apprised of the actions undertaken recently to fast-track CPEC projects and to push the development momentum in Gawadar.

Premier Li underlined the salience of the abiding Pakistan-China relationship and reiterated China’s support for Pakistan’s issues of core national interest.

Premier Li thanked Prime Minister Imran Khan for the measures to advance CPEC projects and maintained that the second phase of CPEC will be instrumental in reinforcing and consolidating Pakistan’s economic development and pave the way for enhanced Chinese investments in Pakistan.

The two sides exchanged views on deepening bilateral trade and explored ways of increasing Pakistan’s exports to China.