China-Pakistan free trade agreement and China-Pakistan Economic Corridor can play an important part in leading Pakistan's economy to prosperity.
A daily Chinese tabloid newspaper commenting on international issues reported that tariff arrangement documented in the second phase of China-Pakistan FTA, which was signed by leaders of the two countries in April, came into force on the first day of 2020.
According to new protocol, both countries will lower tariffs to zero on 75 percent of taxable items in their tariff catalogs.
It said that significantly lower tariffs between the two countries will deepen trade ties, effectively promoting the construction of CPEC.
Source: Radio Pakistan