Economics & Business

Pakistan-China enter Transit Trade, expanding FTA

mush-jabo.jpg BEIJING: Pakistan and China made substantial move by entering a Transit Trade Agreement and expanding the scope of Free Trade Agreement here Sunday. President Musharraf is on a six day official visit of the brotherly China that has brought in several trade and cooperation agreements that would boost the bilateral trade and technology to the country.

jabo.jpg The two countries, besides identifying new areas of cooperation to further strengthen their multi-faceted ties, agreed on a five-year trade and economic development plan, and the projects falling in this category will get credit as concession. Both the countries also identified several new areas, where they can extend cooperation through the already existing mechanism.

The President held wide-ranging talks with Chinese leaders that made significant headway on a host of issues during the several rounds of talks with the Chinese leaders including President Hu Jintao and Premier Wen Jiabao. Premier Wen Jiabao said the visit of the President will further promote the friendly ties between the two countries. He said the two leaders have had several meetings over the past several years that signified the excellent relations the two countries had.-SANA

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Rubab Saleem

Rubab Saleem is Editor of Pakistan Times

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