Pakistan to receive an aid of $1bn from China for its development projects

SUKIRTI MISHRA 08/09/2019 11:56 AM

Islamabad. The Chinese Ambassador to Pakistan, Yao Jing revealed about Beijing's plan to invest $1 billion in development projects in Islamabad. Yao Jing made the announcement in an address to the Islamabad Women's Chamber of Commerce and Industry (IWCCI) on Saturday, revealed the sources. He further highlighted the satisfactory pace of the development projects under the China-Pakistan Economic Corridor (CPEC).


Jing said that the second phase of the China-Pakistan Free Trade Agreement (CPFTA) will be finalised in October after which 90% of Pakistani exports including agricultural products and seafood will be charged with 0% duty. "Market access will increase Pakistan's exports by $500 million, which will reduce the disparity between bilateral trade and women entrepreneurs of Pakistan would be sent to China to participate in the expos and explore business opportunities," stated Yao. The envoy exclaimed that Chinese businesswomen would be participating in the "5th Islamabad Expo" scheduled in November to explore the market and promote networking. 





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