China to declare 313 Pakistani products ‘duty-free’: Razzak Dawood

A high level duo lead by Dr. Firdous Ashiq Awan presiding over proceedings addressing a press conference today, Thursday announced that 313 Pakistani products will be declared ‘duty-free’ by China, ARY News reported.

A press conference conducted by Special Assistant to the Prime Minister for Information and Broadcasting Dr. Firdous Ashiq Awan and Advisor to Prime Minister on commerce Abdul Razak Dawood in a press briefing expressed happiness on the successful arrival of stranded Pakistani prisoners in Malaysia.

315 prisoners of Pakistani descent were freed from Malaysian prison after completion of their jail terms.

Taking over proceedings Dawood expanded on trade and business related matters of the State, saying: There has been a lot of talk about our export’s suffering and people question related to our export figures quite often, I would like to clear the air on our exports.”

“We must take a look at the global trade, global trade has suffered a 3 percent decline due to the US-China ‘trade war’, due to global trade decline our primary target markets have reduced prices on the products we are importing, prices have been reduced up to 7.2%.”

Adding further, Dawood said that there is no significant change in the export figures from last year, “where global trade has suffered a 3% deficit Pakistan has maintained it’s export figures to that of last year which is a positive indication, a reasonably good performance.”

Read More: ECC okays Rs.20 bn sovereign guarantee to stabilize stock market

Continuing on Dawood counted the quantum increase in export items quoting increments in the garments and textile sector.

“Our trade imports have decreased by $4 billion which is an indicator that Pakistan is moving towards self reliance and our trade gap is closing.”

The commerce advisor expressed hope that the upcoming year will yield even better trade results for the country if market access is provided to the businessman.

Shedding light on the Free Trade Agreement (FTA) with China, Dawood said that they have added an additional clause to the agreement empowering Pakistan to reserve the right that if Pakistan’s industry suffers due to China then Pakistan can take ‘safeguard measures’ which consist of short and long-term measures.

“A business delegation from Pakistan is heading to China on June 17, and I myself will go to China in July and then a major delegation will embark towards China in November,” revealed Dawood.

We aim to bring investments from China and increase our exports to China.

Answering a question related to the Judiciary Awan opined, “The Supreme Judicial Council (SJC) has noticed attorney general of Pakistan for June 14 along with other stakeholders, due to binding law of the SJC demanding secrecy an in-camera briefing is held and till the SJC does not set terms and priorities pertaining to the verdict and gives us clear instructions, we are lawfully bound to not share that information with the media.”

Awan announced that the Minister for Law will hold a briefing on whatever decision is undertaken by the SJC.