Pakistan has requested a two-million-ton rice quota from China. during Prime Minister Imran Khan’s visit to China last month, Pakistan requested not just duty discounts, but also quota augmentation in key sectors such as rice.
In the first seven months of the current fiscal year 2021-22, Pakistan exported rice worth $2.1 million to China, compared to $2.29 million in the same time the previous year.
Pakistan has also requested that China remove the 4% levy on cement exports, according to sources.
Under the Free Trade Agreement, Pakistan might enjoy a three-year duty-free concession on cement exports to China (FTA-II). According to sources, this will assist balance a portion of the trade deficit, which reached $32 billion in the first eight months of this fiscal year.
Pakistan has also encouraged China to speed up the process of mutual recognition agreements on agriculture and animal goods, according to the report.
Pakistan has also requested that tariff liberalization be delayed for ten and twenty years, respectively, from seven to fifteen years under CPFTA-II.
Similarly, Pakistan has sought China for a continuous bilateral commercial opening at the Khunjrab border. According to sources, the Ministry of Commerce is awaiting China’s reaction to these recommendations.