BEIJING: China-Pakistan Free Trade agreement paved a way to enhance bilateral cooperation and Pakistan aimed to promote local products through e-commerce platforms here, said Ghulam Qadir, Pakistan’s Commercial Councilor to China.
Addressing a seminar titled “Summit Forum on China’s International Economic Cooperation Going Global “, at National Convention Center, he said that Pakistani products are available on famous Chinese online platforms and Pakistan has a national pavilion on Jingdong(JD.com), a large e-commerce platform in China.
“Pakistan’s current exports to China are just a drop in the ocean. China Pakistan FTA gave over 91% of Pakistani exports market access at zero rates. Efforts are underway to improve our exports to China by sectoral strategies, promotion activities, integrating into Chinese E-commerce giants and promoting efficiency-seeking investment from China into Pakistan,” he mentioned.
He encouraged Chinese investors to invest in Pakistan, and take advantage of friendly policies including up to 100% foreign ownership allowed, no minimum requirement for the amount of foreign equity investment, no upper limit on the share of foreign equity, and the option to repatriate profits, dividends, or any other funds in foreign investor’s currency of origin.
“Chinese pioneer industries can avail incentives at par with Special Economic Zones (SEZs), while entitled to lease land without limitation and no limitation on the transfer of any land held by a foreign investor as well as no restrictions on foreign real estate developers,” he added.
He further said that investors can get advantages of a complete tax holiday for contractors and sub-contractors for 20 years and exemption from customs duty for 40 years on the import of equipment and material for construction and operation of the free zone. – Agencies
