Staff Reporter
Karchi
There are huge opportunities available for Pakistan under CPEC projects by joint ventures and technological transfers while imports under Pak China FTA affected our local industry; this was stated by Mian Anjum Nisar, President of the Federation of Pakistan Chambers of Commerce and industry (FPCCI) in an interactive webinar on China Pakistan Economic Corridor and Pakistan China FTA (second phase) held at Federation house Karachi, Regional Office Lahore and Capital Office Islamabad via Zoom link.
The webinar was organized by Sheikh Sultan Rehman, Vice President FPCCI and attended by Nadeem Sheikh Vice President FPCCI, Li Bijian Chinese Consul General in Karachi, Wang Zhihua Minister Counselor from Chinese Embassy, Zakaria Usman, former President Riaz Sheikh Acting Secretary TDAP, Zarak Khan President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI), Dr. Liaqat Ali Shah Executive Director Centre of Excellence CPEC, Syed Mehdi Raza Deputy Director SBP, Representatives of All Pakistan Bedsheets & Upholstery Manufacturers Association, Pakistan Readymade Garments Manufacturers & Exporters Association, Pakistan Chemicals and Dyes Association and Members of Pakistan China Business Council of FPCCI.
While welcoming the participants, Mian Anjum Nisar, President FPCCI stated that China Pakistan FTA first phase has increased trade deficit to US$ 16 billion and it is expected that it will increase further in second phase. At present, Pak China FTA (Second Phase) allowed duty free access to 313 tariff lines and the China total imports of these products stands US$ 67 billion. He emphasized on the need of removal of under-invoicing, Sanitary and Phytosanitary measures (SPS), Technical Barriers to Trade (TBT) and other barriers.
In his remarks, Sheikh Sultan Rehmen, Vice President FPCCI underlined the need for offering of same incentives to Pakistan industries which Pakistani government is offering to Chinese investors. While highlighting the projects, he added that China has already completed 80% of first phase projects related to energy and infrastructure and the second phase includes the projects related to socio-economic development, industrial cooperation and agriculture. He emphasized on the need for innovation, product diversification and joint ventures as vast opportunities are available in Pakistan China FTA (Phase II).
In his statement, Li Bijian Chinese Consul General in Karachi stated that his consulate is ready to help the Pakistani businessmen for creating interaction with Chinese companies which offer huge socio-economic benefits to Pakistan and create employment opportunities. He also talked about environmental protection fulfilled by the projects. He added that CPEC will benefit local people particularly young population in enhancing their skills and providing employment opportunities.
Zarak Khan, President Pakistan China Joint Chamber of Commerce and Industry stated about the need of elimination of administrative hurdles and improvement in infrastructure for Chinese investment in Pakistan.
Riaz Sheikh Acting Secretary Trade Development Authority of Pakistan stated that ASEAN and other countries have taken huge benefits with FTA with China and there are a lot of opportunities available for Pakistani traders in exporting agriculture goods, gems, jewelry, frozen sea food, textile etc. Wang Zhihua Minister Counselor from Chinese Embassy that China informed that China is planning to organize trade fair from November which will provide opportunities to Pakistan to enhance its trade with China.
