Technical negotiations on Pak-China PTA from tomorrow

More great news on the ever expanding economic ties between Pakistan and the economic juggernaut that is Great China. :k:

http://www.dailytimes.com.pk/default.asp?page=story_26-10-2003_pg5_9

Technical negotiations on Pak-China PTA from tomorrow

Pakistan and China would initiate technical negotiations on the proposed preferential trade agreement (PTA) from tomorrow (Monday), and to this effect a three-member team of experts would leave for Beijing today (Sunday). The PTA is to be signed during the forthcoming China visit of President Gen Pervez Musharraf. The president will start his five-day China visit on November 1, and officials say that the signing of the PTA is the most important item on his agenda. The three-member team leaving Sunday comprises of Shahid Bashir, chief customs, Asad Majeed from the foreign office and Dr M Saeed, deputy secretary in the FT wing of the commerce ministry. “Pakistan would offer tariff concessions in 88 items and would try to have concessions in 100 items from China,” said an official source said. He added that the Pakistani team would discuss 506 items in the technical negotiations, out of which tariff concession on 88 would be offered to China. Similarly, the Chinese team would finalise 100 items to be traded between the two countries under the PTA.

The items that Pakistan would take up for technical deliberations are following:

Fresh or chilled butterfish, shrimps and prawns, onion fresh or chilled, pine nets, sates, dry and fresh, mangoes, guavas, orange, kinoo, grapefruit, apples, pears and quinces, apricots, durum wheat, rice, urea, perfumes &toilets waters, shampoos, dental floss, soap, dental floss, raw material in textile industry, carpets, rugs, durries, electric tables, desk, floor standing lamps, fitting of base metal for fluorescent tubes, chandeliers, metal furniture of kind used in offices, wooden furniture of kind used in offices, operating tables, dentist chairs, imitation jewellery ness, medical, surgical, dental or veterinary furniture, barbers’ chairs and similar chairs, ski boots, cross country ski footwear and snow board boots, Articles of apparels, gloves, mittens and mitts, belts and bandoliers, silk yarn, women’s or girls’ suits, ensembles, jackets, blazers, dresses, skirts, divided skirts, trousers, bib and brace overall, breeches and shorts, men’s or boys underpants, briefs, nightshirts, pyjamas, bathrobes, dressing gowns and similar articles, knitted or crouched, jersey, pullovers, cardigans, waist-coats and similar articles, knitted or crouched, babies garments and clothing accessories, girdles, corsets, braces, suspenders, garters and similar articles.

More positive developments on the PTA between Pakistan and China.

http://www.dailytimes.com.pk/default.asp?page=story_31-10-2003_pg5_7

Pakistan, China develop consensus on PTA items

Pakistan and China have managed to develop a consensus over the items to be traded between the two countries under the preferential trade agreement which is to be signed during the forthcoming visit of President General Pervez Musharraf to Beijing, an official source said here Thursday. “The three member team of Pakistan which is in Beijing for the finalisation of items informed the working group on China in Pakistan that both the countries have mutually agreed to give zero duty to items of chapter 72 and zero duty tariff to seafood while 25 percent concession in tariff to 95 items have been agree,” the source said. The source added that the negotiating team would inform the working group in the ministry of commerce about the further details of the negotiations. “Under the plan, Pakistan had offered China tariff concessions in 88 items and wanted to have concessions in 100 items from china.”

Very good news for Pakistan :k:

Excerpt China is now emerging as the largest market in the world,providing a lot of competition and opportunities. Expansion in Chinese market coupled with Pakistan’s long-standing relationship could help to achieve the required target, establishing a comprehensive partnership. According to the sources, China’s entry into WTO provides excellent opportunities to Pakistani businessmen to set up their business outlets in the Chinese market.

Pak-China Bilateral Trade Jumps To 2.09 Bln Dollars](http://www.paknews.com/main.php?id=3&date1=2004-01-01) Paknews

BEIJING, China: Jan 01 (PNS) - Pak-China bilateral trade jumped to 2.09 billion dollars, showing an upward trend in economic interaction between the two countries in the recent years. According to the China’s Custom department, these figures were recorded in ten months, from January to November 2003. In the preceding year, the trade volume was 1.8 billion dollar. The rise occurred mainly due to Pakistan’s import from China in form of construction machinery that was being used for implementation of Chinese-funded development projects.

Meanwhile, China’s total financial commitments to Pakistan during the last three and half years have reached more than dollar 6 billions to help implementing important public sector projects. Official sources told APP in Beijing that these commitments were made in form of grant, credit or direct investment. The projects have already been identified and necessary agreements, contracts or MoUs have been signed. Some of the projects are under implementation or at the negotiating stage. …