Pakistan has asked China to enhance the rice quota to two million tons. Sources told that Pakistan, during the tour of Prime Minister Imran Khan last month, asked China not only to support duty concessions but for quota enhancement in specific sectors including rice.
Pakistan has exported rice worth $2.1 million to China in the first seven months of the current fiscal year 2021-22 whereas it exported rice worth $2.29 million to China in the same period the previous year.
Sources said that Pakistan has also asked China to abolish the 4 percent duty on the export of cement.
Read also: Electric vehicles will revolutionize Pakistan by 2030: GoP
Pakistan can get the duty-free concession of exporting cement to China after 3 years under the Free Trade Agreement (FTA-II). Sources further said that this will help offset part of the trade deficit which has surged to $32 billion in the first eight months of the current fiscal year.
They said that Pakistan has also asked China to expedite the process of mutual recognition agreements on agriculture and animal products.
Apart from this, Pakistan has also asked the tariff liberalization to be done by 10 and 20 years from seven to 15 years under CPFTA-II respectively.
Similarly, Pakistan has also asked China for an uninterrupted bilateral opening of the Khunjrab border for trade. Sources said that the Ministry of Commerce is waiting for the response of China on these proposals.
