World

China could grant concessions to Pakistan

Islamabad: Pakistan and China have agreed to revise the bilateral trade agreement under which Pakistani exporters could get the same tariff concessions China gives to its trading partners in the ASEAN region, according to a report in The Express Tribune.

The amended China-Pakistan Free Trade Agreement (CPFTA), which was initially signed in 2006, is expected to be signed next month in Islamabad, the Ministry of Commerce said on Friday.

The negotiations to revise the trade pact were launched in 2012 in an effort to address the rising imbalance in bilateral trade.

The trade deficit between the two countries rose from $4. 7 billion in fiscal year 2014-15 to $8. -UNI

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