- In return, China is only seeking 60% of Pakistani market; says Amb Yao Jing
ISLAMABAD – Chinese Ambassador Yao Jing on Monday said that China is ready to give access to Pakistani exporters 90 percent of its market share under the second phase of FTA (Free Trade Agreement).
At a special media briefing on the Second Belt & Road Forum commencing from April 25, Ambassador Yao Jing said that the second phase of FTA would be signed during the upcoming visit of Prime Minister Imran Khan to Beijing where world leaders would be attending Second Belt and Road Forum from April 25-27.
“Opening of the Chinese markets for Pakistani commodities would largely help boost Pakistani exports to China. In return, we are not seeking 90 percent market share in Pakistan. We are only seeking 60 percent market share in Pakistan in return,” the Ambassador said.
The envoy said that during the upcoming visit to China, Prime Minister Imran Khan would hold meetings with the Chinese leadership to discuss interventions under China Pakistan Economic Corridor (CPEC) besides regional and international issues.
The envoy said that Premier Khan along with 15 other heads of State and government will attend the Second Belt and Road Forum (BRF).
“Prime Minister Imran Khan’s upcoming visit to China will provide an opportunity to both the countries to further explore new vistas of cooperation and both the countries are set to begin the second phase of FTA. There is complete understanding between Pakistan and China that the CPEC is fruitful for both the countries” he added.
Responding to another question whether China was satisfied over CPEC progress, the envoy said that China was satisfied over the progress on CPEC and relations between PTI-led government and China can be judged from the fact that Prime Minister Imran Khan is undertaking second visit within five months’ time.
He said that leadership of China, including President Xi Jinping and Prime Minister Li Keqiang would also hold bilateral meetings with the Prime Minister Khan to discuss issues beneficial for both the countries.
Ambassador Yao was of the view the event would also provide opportunities to interact with the world leadership. About the upcoming Belt and Road Forum, the envoy said that 12 thematic forums and a CEO conference would be held on April 25, the opening ceremony and a high level meeting on April 26 while the leaders’ roundtable is scheduled on April 27.
He said Prime Minister Imran Khan would also attend inauguration of international horticultural exhibition along with the other leaders during his visit.
He said that Secretary General of the United Nations and the managing director of the International Monetary Fund will be attending the forum, while senior representatives of France, Germany, Britain Spain, Japan the republic of Korea and the European Union will also participate in the event.
He said that BRI has received strong endorsement and warm support of the international community. So far, a total of 124 countries and 29 international organizations have signed BRI cooperation documents with China.
The Ambassador said the second BRF was greatly welcomed worldwide with some 5,000 participants from more than 150 countries and 90 international organizations having confirmed their attendance, covering areas from five continents and different walks of life such as government civil, society business and academia.
He said that the forum would voice the firm support for multilateralism and open world economy, enrich the principles of cooperation of the Belt and Road Initiative (BRI), build a network of partnership and establish more mechanisms for high-quality development. The Ambassador said that at the global level, the BRI is well aligned with the UN 2030 Agenda for sustainable development, thus forming a synergy of policies to promote global development.
