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China Pakistan FTA: Expansion of Export of High-Quality Products

浏览数量:2     作者:胡心媛     发布时间: 2020-01-07      来源:中国贸易报

  

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Pakistan and China have always had close economic relations, and China is Pakistan's largest trading partner and source of foreign capital. In recent years, China's continuous increase in imports of Pakistani agricultural products has even promoted the prosperity and development of bilateral trade.


 The tax reduction arrangements of the Protocol of the Government of the People's Republic of China and the Government of the Islamic Republic of Pakistan on Amending the Free Trade Agreement (hereinafter referred to as the "Protocol") have come into effect on January 1, 2020. According to the "Protocol", after the implementation of the tax reduction arrangements, the proportion of tariff lines for products that implement zero tariffs between China and Pakistan will gradually increase from 35% to 75%, and the level of liberalization will more than double. In addition, the two sides will implement a 20% partial tax reduction on other products that account for 5% of their respective tax items.


 "Expanding exports is one of the major economic policies of the Pakistani government. After the implementation of the second phase of the FTA, Pakistan ’s main export products will be more convenient to enter the Chinese market. After the implementation of the 'upgraded' FTA, Pakistan ’s exports to China are expected to be realized. Significant growth. "Daoud, Prime Minister's adviser to Pakistan, said that China is Pakistan's largest trading partner. The free trade agreement not only provides greater export opportunities for traditional specialty products such as agriculture, textiles, and light industry in Pakistan. The development and expansion will help Pakistan to improve its manufacturing level.


  "Since the implementation of the" Belt and Road "initiative and the construction of the China-Pakistan Economic Corridor, especially after President Xi Jinping's visit to Pakistan in 2015, bilateral economic and trade relations between China and Pakistan have deepened. However, at the same time, Pakistan ’s trade deficit with China has continued to widen. The business community is concerned. In order to fully take care of Pakistan ’s concerns and promote the balanced development of China-Pakistan trade, in recent years, the relevant departments of China and Pakistan have actively cooperated and adopted a series of measures to focus on promoting Pakistan ’s expansion of exports to China. Such trade promotion activities will continue to strengthen bilateral inspection and quarantine cooperation to promote the entry of high-quality Pakistani products into the Chinese market. The "Protocol" will provide incentives for China-Pakistan economic and trade development, and will also enhance foreign investors' confidence in Pakistan. Economic and Commercial Counsellor Wang Zhihua of the Embassy of Pakistan told reporters that the entry into force of the "Protocol" has a milestone meaning for the development of economic and trade relations between the two countries and will promote the balanced development of bilateral trade and deepen bilateral economic and trade cooperation. The sharp reduction in tariff levels between the two countries will promote the expansion of exports of competitive products between the two countries, bring more benefits to the companies and people of the two countries, better leverage the role of trade and investment, and promote the two countries' investment and industry. Cooperation to expand the depth and breadth of economic and trade cooperation between the two countries.


 It is understood that the China-Pakistan Free Trade Agreement was signed in November 2006 and came into effect in July 2007. In order to further improve the level of trade liberalization and facilitation between the two countries, China and Pakistan launched the second phase of the FTA negotiations in March 2011, concluded negotiations in April 2019, and signed the Protocol. According to Pakistan Customs statistics, since the signing of the China-Pakistan Free Trade Agreement, Pakistan ’s exports to China have increased from US $ 575 million to US $ 1.85 billion in the previous fiscal year, and bilateral trade volume has also jumped from approximately US $ 4 billion to US $ 15.6 billion. So far, China has become Pakistan's largest trading partner and second-largest export destination country for five consecutive years, and has ranked first among Pakistan's foreign direct investment source countries for six consecutive years. Pakistan is China's second largest trading partner in South Asia. Cui Weijie, director of the Institute of Industrial Internationalization Strategies of the International Trade and Economic Cooperation Research Institute of the Ministry of Commerce, said in an interview with the reporter of China Trade News that the implementation of the Protocol's tax reduction arrangements will further expand the market opening between the two countries and enable the two countries Enterprises and consumers have enjoyed more preferential treatments, pushing the construction of the China-Pakistan Free Trade Zone into a new stage.


 

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"The formal entry into force of the second phase of the China-Pakistan Free Trade Agreement will not only promote the mutual expansion of exports of products with competitive advantages between the two sides, enable enterprises and consumers of the two countries to enjoy more preferential and diversified goods and other benefits, and deepen bilateral economic and trade Cooperation. "Cui Weijie said that for China and Pakistan, the most important economic issue in recent years is the construction and development of the China-Pakistan Economic Corridor. The upgrade of this free trade agreement will undoubtedly help boost the construction of the China-Pakistan economic corridor.


According to Cui Weijie, if the economic corridor is successfully constructed, it can not only expand the import and export of goods and personnel between China and Pakistan, promote Pakistan's re-export trade, but also effectively increase the path of China's energy imports, allowing Middle Eastern oil to reach China directly. The hinterland of the southwest can also reduce dependence on the China-Myanmar oil and gas pipeline under construction.


From a more macro perspective, the completion of the China-Pakistan Economic Corridor can closely link South Asia, Central Asia, North Africa, and the Gulf countries through economic and energy cooperation to form an economic resonance, while strengthening Pakistan as a bridge and link The strategic position of Eurasia and the African continent.



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