China proposes 70 percent immediate tariff relief for Pakistan
Commerce Minister says 2nd phase of Pak-China FTA will help in reducing trade imbalance with China.
Commerce Minister Khurram Dastgir Khan has said 2nd phase of China-Pakistan Free Trade Agreement would help in reducing trade imbalance with China.
Addressing a press conference in Islamabad on Tuesday, he said the first phase was not in favor of Pakistan.
The Minister said China has proposed 70 percent immediate tariff relief for Pakistan in the second phase.
He said the two sides have also agreed that tariff reduction would not be on reciprocal basis rather it would be in favour of Pakistan.
Commerce Minister said two countries would have the right to put safeguard measures and quotas if there is surge in imports of any particular product from either side.