The Second Phase Of The FTA Agreement Takes Effect

The protocol on the revision of the free trade agreement between the government of the People's Republic of China and the Islamic Republic of Pakistan government (hereinafter referred to as the protocol) came into effect on December 1, 2019.

The revision of the free trade agreement between China and Pakistan is an important measure to implement the consensus of the leaders of the two countries and further enrich and enrich the all-weather strategic partnership of cooperation between China and Pakistan. It is a vivid practice of promoting the construction of the "one belt along the way" and building the community of human destiny. It is a model for the construction of the free trade area among developing countries and a concrete action to implement the consensus of the United Nations South South cooperation. It will further enhance the level of trade liberalization and facilitation and deepen bilateral economic and trade cooperation between the two countries.

The protocol upgraded and revised the market access and tariff reduction schedule, rules of origin, trade remedy and investment in the original FTA, and added the customs cooperation section. The core content is to substantially increase the level of liberalization of trade in goods on the basis of the original FTA. The protocol stipulates that the ratio of tax items to zero tariff products between China and Pakistan will gradually increase from 35% to 75%. In addition, the two sides will also implement a partial tax reduction of 20% yuan for other products that account for 5% of their respective tax collections. After consultation between China and Pakistan, tariff concessions will be implemented as soon as possible after completing the necessary domestic procedures.

The China Brazil FTA was signed in November 2006 and implemented in July 2007. In order to further enhance the level of trade liberalization and facilitation between the two countries, China and Brazil launched the second stage negotiation of the FTA in March 2011, and concluded the negotiations and signed the protocol in April 2019.