21/12/2023
The Chinese government is considering requests from Pakistan to amend the existing Free Trade Agreement (FTA), provide trade finance in yuan, and offer loans to support industry relocation.
The requests were made during a visit to China by Pakistan's Interim Commerce Minister, Gohar Ejaz, who is leading a delegation. The proposed revision of the FTA aims to extend preferences to Pakistani products, aligning them with the China-ASEAN agreement.
Pakistan has also urged China to allocate $5 billion in yuan for financing investments to facilitate the relocation of Chinese companies to Special Economic Zones (SEZ) or Export Processing Zones (EPZ) in Pakistan.
Additionally, $5 billion in yuan will be available for immediate trade finance to minimize reliance on US dollars.
