The 7th Meeting of China-Pakistan free trade agreement (FTA) negotiation (Phrase 2) was held in Islamabad, Pakistan on December 6 to 7. The two sides negotiated on tax reduction model for trade in goods, Pakistan’s tax regulating and further opening-up in service and investment areas and customs data exchange cooperation and inspection and quarantine measures on some Pakistan products to China. Positive progress has been made.
Since China-Pakistan FTA was implemented in 2006, the bilateral trade and economic relations have maintained rapid growth. Bilateral trade in 2015 amounted to US$18.93 billion, up 18.2% year on year; that in January-October 2016 reached US$15.41 billion, up 0.7% year on year. At present, Pakistan has become China’s second largest trading partner in South Asia.
