Pakistan losing Chinese market after Beijing’s deals

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ISLAMABAD: Pakistan is losing its margin of preference in the wake of free trade deals signed by China with different countries, especially the member states of Asean grouping, after a similar agreement with Pakistan, according to local media sources.

The concern was raised on Monday at the start of the fifth round of negotiations for the second phase of the Pakistan-China Free Trade Agreement held to define accepted standards for trade between the two countries, reportedly.

The talks are aimed at assessing the performance of economies of the two sides under the trade agreement, signed in 2006, and proposing necessary changes for mutual benefit, sources claimed.

Pakistan’s delegation for the three-day talks was headed by Ministry of Commerce Additional Secretary Robina Ather and comprised officials of the Federal Board of Revenue, Ministry of Industries, Ministry of Textile Industry and Ministry of National Food Security and Research.