ISLAMABAD: China has expressed desire to enhanced cooperation in the services sector as they mentioned to different areas during a related to Pakistan Free Trade Agreement.
The Chinese team participating in the negotiations at fifth meeting of second phase mentioned to architectural, engineering, medical and dental, advertising, courier, tourism and travel, recreational, cultural and sporting services for cooperation with Pakistan.
The fifth meeting of second phase negotiations of China-
Pakistan Free Trade Agreement (CPFTA) was held in Islamabad on 3rd-5th August 2015, according to statement issued by Ministry.
This proposed liberalization in different services sectors would eventually allow a robust and dynamic growth in trade in services between the two countries.
Both sides reviewed and expressed satisfaction over the progress made by Working Group of Customs Officials’ dealing with Electronic Data Interchange related issues.
It was decided that the electronic data sharing systems would be put in place on both sides before the end of this year that would help to deal with under-invoicing and mis-declaration.
Yao Wenling, Deputy Director General, Ministry of Commerce of China and Mrs. Robina Athar, Additional Secretary Ministry of Commerce of Pakistan lead the respective delegations.
The two sides continued discussion on Tariff Reduction Modality (TRM) for the second phase of CPFTA. Pakistan reiterated its stance that the second phase of CPFTA should be based on the principle of less than equal reciprocity in favor of Pakistan. China would give tariff concessions to Pakistan that it has given to its other FTA trading partners and Pakistan may be allowed an adequate time period for reasonable reduction of tariffs keeping in view the prevalent conditions of Pakistani domestic industry.
With regard to enhancing trade in services under the CPFTA, Chinese side shared a preliminary list of sectors and sub-sectors for evaluation of Pakistani side.
Matters regarding Sanitary and Phyto-Sanitary and Technical Barriers to
Trade were also discussed. Both sides agreed that SPS regulatory and monitoring authorities of both countries would work more closely.
This close cooperation between them would effectively help increase export of rice, mango, rape-seed, canola and cherries to China in the near future.
