Pakistan already has zero tariffs on the export of 724 products to China under the first free trade pact signed between the two countries in 2006. After the implementation of the second pact, Pakistan was allowed to export more than 1,000 products to China without tariffs. When I was young, I heard many touching stories about Pakistan and the friendship between our two countries. To name a few, I learned that the Pakistani people were working hard to build their beautiful country, that Pakistan was opening an air corridor for China to reach the world and helping China restore its legal seat at the United Nations. I was deeply impressed by the stories. I look forward to my next state visit to Pakistan. The Prime Minister travelled to China from 25 to 28 April 2019 to participate in the 2nd Forum Belt and Road for International Cooperation. He gave a speech at the opening ceremony of the BRF on April 26 and participated in the Heads of State and Government Roundtable on April 27. During the visit, the Prime Minister held meetings with President Xi Jinping and Premier Li Keqiang to discuss all bilateral relations, including the implementation of Phase II of the CPEC.
Both sides reaffirmed their determination to further strengthen the strategic partnership for all weather conditions. The two sides also discussed important regional and international issues, including peace and reconciliation in Afghanistan, as well as peace and stability in South Asia, and agreed to deepen cooperation in multilateral for a. The Prime Minister participated in a Pakistani business and investment forum bringing together business leaders from Pakistan and China. Fourteen B2B agreements have also been signed. He also participated in the opening ceremony of the exhibition of the International Exhibition of the Beijing Exhibition. During the visit, seven new MOMs were signed on a range of bilateral issues, including the second phase of the Pakistan-China Financial Free Trade Agreement, the conclusion of the ML-1 draft, the Rashakai SEZ joint venture, socio-economic cooperation, economic and technical cooperation and cooperation in the field of marine science. China-Pakistan relations began in 1950, when Pakistan was one of the first countries to end official diplomatic relations with the Republic of China (or Taiwan) and to recognize the government of the People`s Republic of Mainland China. Since then, the two countries have placed great importance on maintaining an extremely close special relationship and support[1][2][3], and the two countries have regularly exchanged high-level visits, resulting in a large number of agreements. The People`s Republic of China has provided economic, military and technical assistance to Pakistan and each country considers the other a close strategic ally. [4] Diplomatic relations between Pakistan and China were established on May 21, 1951, shortly after the Republic of China lost power on the mainland in 1949. [28] Although Pakistan was initially ambivalent about the idea of a communist country on its borders, it hoped that China would serve as a counterweight to Indian influence. India had recognized China a year earlier and Indian Prime Minister Nehru hoped for closer relations with the Chinese.
In 1956, Pakistani Prime Minister Huseyn Shaheed Suhrawardy and Chinese Prime Minister Zhou Enlai signed the China-Pakistan Friendship Treaty, marking closer bilateral relations. A second phase agreement is being negotiated between China and Pakistan. In the second phase, tariffs will be further reduced and the various trade procedures will be standardised. [8] [it needs to be updated] In recent years, the volume of bilateral trade between China and Pakistan, with a stable commodity structure, has increased rapidly. Despite significant investments from China, however, bilateral trade remains blood-empty. Chinese imports from Pakistan reflect a downward trend, while Chinese exports to Pakistan are on the rise. Bilateral trade, which amounted to $1.3 billion
