Business community wants China to give Pakistan favourable tariff terms
October 30, 2018
The Pakistan Business Council (PBC) has suggested to the government to ask China to extend its favourable tariff terms to Pakistan.
In a statement, the PBC said that the government should hold talks with China on providing preferential tariff on Pakistani products like Bangladesh and ASEAN countries do.
The zero rating, also accorded to Bangladesh and ASEAN, would allow Pakistan’s exports to go up by $3.8 billion. The exports would increase significantly even if only 25% products get zero rating, the PBC said.
The council quoted the example of Bangladesh, which gets 97% duty-free access.
Increase in exports to China would help cut trade and current account deficits and help generate employment, the PBC said.
