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China agrees to exempt duty on 313 Pakistani products from Jan 1, 2020

China agrees to exempt duty on 313 Pakistani products from Jan 1, 2020

ISLAMABAD: China agreed to exempt duty on 313 Pakistani products worth $7 billion to $8 billion under second China Pakistan Free-Trade-Agreement (FTA) from January Pakistan can now become a major exporter of goods with China providing duty relief on all its major exports.

China’s new offer covers 88% of Chinese global imports, 91.3 of imports from Pakistan and 83% of Pakistan’s global exports $19 billion. The 313 Tariff lines cover $8.7 billion worth of Pakistan global exports, $2 billion worth of Pakistan exports to in the base year i.e. 2013 (out of total 2.6 billion) and also cover $64.3 billion worth of Chinese imports from the World.

 

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