Pakistan and China - CPEC

China-Pakistan Free Trade second phase of agreement implemented on December 4, 2019. 

It is a be a big step forward towards the trade equality between two countries China and Pakistan. China has agreed to immediately eliminate duty on more than 300 fares. Pakistan is already having zero duty access to Chinese markets on about 724 products. Pakistan has also protected its textiles, clothing, seafood, iron and steel, agriculture, chemicals, plastic, ceramics, glass, surgical instrument, leather, stones and electrical equipment industries under this.

Both the country will get a big boost after the implementation of the second phase of the free trade agreement. The free trade arrangements show that Chinese top leadership is willing to promote their trade ties with Pakistan on equability and to have a win-win situation in their economic relationship.

The tariff has been eliminated on major products - 

which are textiles, garments, seafood, meat, other animal products, prepared food, leather, chemicals, plastics, oilseeds, footwear as well as engineering goods including tractors, auto parts, and home appliance machinery, etc. This will also give a reasonable amount of production to Pakistan's domestic industry from import from China.

With investments in road, railways ports, the $60 billion China Pakistan Economic Corridor (CPEC) offers enormous potential to boost Pakistan economy, poverty reduction, and help those likely to be affected by the new trade route.