World Economy

Impressive Results

Impressive ResultsImpressive Results

The Free Trade Agreement (FTA) signed between Pakistan and China has shown positive results as the bilateral trade volume increased from around $6b in 2006 to $16b in 2014, App reported. The China-Pakistan Free Trade Agreement (CPFTA), which was inked in 2006 and enforced in 2007, brought maximum opportunities for businessmen and consumers of the two countries. Pakistan was the first developing country, which signed the FTA with China to boost its economy. The agreement covers trade in goods and services along with investments. Currently the balance of trade was in favor of China but efforts are being made to increase exports and decrease imports from that country, said sources in the Ministry of Commerce.