First energy project under CPEC completed: Khurram Dastgir | Pakistan Company News

First energy project under CPEC completed: Khurram Dastgir

Federal Minister for Commerce, Engr.

Khurram Dastgir Khan chaired a meeting as a guest of honor, between

Pakistan Readymade Garments Manufacturers and Exporters Association

(PRGMEA) & delegation of China Chamber of Commerce for Import and

Export of Textile and Apparel (CCCT).

The commerce minister welcomed Mr. Wangyu, Vice Chairman CCCT

and the rest of the Chinese delegation to Pakistan, said a press

release on Monday.

The minister appreciated the MoU on the Cooperation between

Pakistan Readymade Garments Manufacturers and Exporters Association

(PRGMEA) & China Chamber of Commerce for Import and Export of

Textile and Apparel that included Promotion of Trade and Investment

cooperation, exchange of ideas for developing the sector, organizing

and participating in Fairs, exchange of information and support in

business partner search, visits and events participation, training

and working group arrangements and said that the government of

Pakistan & Commerce Ministry in particular will encourage and

support the cooperation that has begun between the CCCT and PRGMEA.

Speaking on the occasion, the commerce minister said that

while FTA with china is still Pakistan's best and widest FTA but

still we have noted that since 2006 china has done many more and

wider FTAs with other regions and countries in which, china has

offered deeper concessions to other regions compare to Pakistan.

On govt. to govt. level we are trying to restore the margin

of preference that Pakistan originally had in 2006 and we urge

through the, CCCT to also speak to the govt. of china that Pakistan-

China FTA requires restoration of Preference, added Khurram Dastgir

Khan.

Khurram Dastgir Khan cited this as one of the reasons due to

which Trade imbalance between Pakistan and China has increased.

Commerce Minister suggested two major steps as way forward.

As govt. we are trying our best to address the trade imbalance

through reducing trade barriers and Pakistani govt. will provide

full support in reducing any barriers to the formation of joint

ventures between Pakistani and Chinese companies, added the

minister.

Minister sought suggestions both from the CCCT and PRGMEA on

how to discuss with Beijing on what form of dispute resolution

mechanism should be adopted and said that we are already in touch

with the embassy of china in Islamabad regarding Visas for business

people.

Minister also informed that on the 3rd of July the first

energy project under CPEC has been completed that is the 1320 MW

electricity plant at Sahiwal.

The Commerce Minister urged that it is important to work hard

in this economic partnership and said that part of that economic

partnership is also to have a knowledge partnership between two

Source: Ministry of Information, Broadcasting and National Heritage