Pakistan and China, Wednesday, decided to install electronic data sharing systems on either side by the end of current year to deal with under-invoicing and misdeclaration of volume of import and export commodities. Both the countries reviewed and expressed satisfaction over the progress made by the Working Group of Customs Officials’ dealing with Electronic Data Interchange related issues.
Both the countries arrived on this unanimity in the fifth meeting of second phase negotiations of China-Pakistan Free Trade Agreement (CPFTA) concluded here. 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 which entails that China would give tariff concessions to Pakistan which it has given to its other FTA trading partners while Pakistan may be allowed an adequate time period for reasonable reduction of tariffs keeping in view the prevalent conditions of Pakistani domestic industry.
ng trade in services under the CPFTA, Chinese side shared a preliminary list of sectors and sub-sectors for evaluation of Pakistani side. China wants enhanced cooperation in the services sectors which include architectural services, engineering, medical and dental services, advertising, courier services, tourism and travel, recreational, cultural and sporting services. This proposed liberalization in different services sectors would eventually allow a robust and dynamic growth in trade in services between the two countries.
Matters regarding Sanitary and Phyto-Sanitary and Technical Barriers to Trade were also discussed. Both sides agreed that SPS regulatory/monitoring authorities of both countries would work more closely. This close cooperation between them would effectively help export of rice, mango, rape-seed, canola and cherries to China in the near future.