The speed at which development projects under the
china -
pakistan economic corridor(CPEC) was satisfactory and the second phase of the
china -
pakistan free trade agreement (CPFTA) will be finalised in October, said Yao Jing, the ambassador of
china to
pakistan.
Yao Jing the ambassador of
china to
pakistan has announced that Beijing has planned to invest $1bn in development projects in Islamabad. This news was declared by him while talking at the Islambad
women's chamber of commerce and industry (IWCCI) on Saturday. 90 percent of
pakistan exports including agricultural products and seafood will attract a 0 percent duty.
Yao also said that market needs will raise
pakistan's export by $500 million, which will reduce the disparity between bilater trade.
He also remarked that Chinese
business women would be invited to participate in the fifth islambad expo scheduled in November to explore the market and promote networking. And also
business women from
pakistan would be sent to
china to participate in
business opportunities.
CPEC is willing to fastly modernize
pakistan's infrastructure and build strong it's economy by the construction of modern transportation networks, many energy projects and special economic zones. Over $33 billion worth of energy infrastructure are being constructed by private consortia to help alleviate
pakistan's chronic energy shotages.