ISLAMABAD, May 20 (INP): Pak-China FTA2 is important one to implement as a priority to revive denominated seafood catch, says economic experts.
A meeting between the General Administration of China Customs and the Trade Development Authority of Pakistan (TDAP) held early this month to review the two clauses of FTA1, i.e., the addition of neglected Harmonized System (HS) Codes for a variety of seafood in fresh, frozen, or processed form, and Second to entertain Pakistani imports to China as duty-free as Association of Southeast Asian Nations (ASEAN) are allowed to do there.
The absence of HS codes is eclipsing Pakistani seafood exports and depriving the country of a great market share. With the activation of FTA2, Pakistani seafood export will soar, Said Vice Chairman of Pakistan Fisheries Exporters Association, Karachi, Mian Saeed Fareed while talking with Faiza Tehseen, reporter to WealthPK.
Furthermore, he said that the Ministry of Commerce, Pakistan also neglected to add the HS codes of a variety of seafood items that were usually exported from here, i.e., ribbon fish, cuttlefish, squid, a few shells, and shrimp species.so, we emphasized making them a part of FTA2. Overall fisheries exports from Pakistan are about 400 million dollars per annum. I am in the seafood export business since 2004. I export multiple types of both fresh and frozen seafood items. My specialty is in the export of crabs and shells. I export shrimp mostly to China, and Middle Eastern countries, while Crocker and crabs are my main exports to Thailand, Vietnam, South Korea, etc. Other mix catches are exported to other countries as per demand. It is very important for our policymakers to add a variety of names with properly issued titles and HS codes to make Pakistani fisheries export versatile. It is important to boost the trade and business related to this sector.
Discussing the trade relief provided to ASEAN members on their imports to China, he said that we demanded the same privilege on our imports there. Imports from ASEAN countries in China are duty-free while Pakistani imports there are having duty charges. It increases the cost of imports from Pakistan and prices as well. Although
many aspects concerning FTA2 are still a subject to be discussed, the core ones were the two discussed above. China must support Pakistan being its neighbor and all times friend. FTA2 is signed, and submitted to the Ministry of Commerce of Pakistan.
It is not in operation yet but is expected soon.
China is the main market destination to export Pakistani aquatic catch. If China coordinates properly, it will benefit both countries in the longer run. It will also help boost the exports and Pakistani fisheries sector, added Mian Saeed the Chief Executive Officer (CEO) of Legend International private limited, Karachi.
