FAISALABAD. Pakistan should renegotiate FTA with the Chinese Government to get maximum facilities for Pakistani industrialists in the industrialization phase of CPEC, said Mr. Shabbir Hussain Chawla.
Talking to a 2-member delegation of China comprising of Mr. Xing Shiqun and Ms. Tao Kai, he said that Free Trade Agreement (FTA) already signed between Pakistan and China has proved counterproductive and instead of enhancing Pakistani exports, only Chinese exports have increased manifold where as Pakistani exports were decreasing fomenting a strategic imbalance between bilateral trade of two countries.
“This situation has played a key role in further widening gap between our overall exports and imports”, he said and added that it has created serious problems for the Pakistan economy. He told that Chinese total textile export is around $260 billion whereas Pakistani exports are hardly $13 billion but during negotiation Chinese participants were very aggressive and tried to give a tilt to every point in favor of china. He said that renegotiation on FTA will resolve the identified discrepancies between the two countries and told that Chinese government is very proactive in supporting their exports. “Chinese exporters are getting their refunds and rebate within 24 hours whereas Pakistani exporters have been denied of this facility for the last many years.
He stressed the need to launch maximum joint venture during the industrialization phase of CPEC and hoped that the same facilities will be provided to the Pakistani exports as are already enjoyed by the Chinese exporters. The Chinese delegation showed interest in launching joint ventures and told that Chinese government has already directed them to shift their textile related industries to Pakistan from where they could easily send their export consignments to Gulf and European countries as this relocation will help their immediate and expeditious transportation to the potential consumer markets. “It will also cut down the traveling time and cost, and hence Chinese exporters are looking for competent and progressive Pakistani exporters with whom they could start joint venture.
Later Mr. Khalid Habib Sheikh presented FCCI shield to Ms Tao Kia. The meeting was also attended by Abdul Qayoom, Mr. Muhammad Nawaz etc.