Pakistan: Islamabad delays signing free Trade Agreement with Beijing

Pakistan has delayed the signing of the second phase of a revised free trade agreement with China over reservations regarding the final list of concessions that Beijing shared, The Express Tribune reported April 6. Pakistan gave concessions on 35 percent of tariff lines in the first phase of the agreement, resulting in an influx of Chinese goods that local industries couldn’t compete with. Under the second phase, China was seeking concessions that Pakistan was unable to provide. Beijing and Islamabad’s relationship is one of the strongest in Asia, as evidenced by the two countries’ infrastructure cooperation in the $46 billion China-Pakistan Economic Corridor.

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