Explanation

Pakistan and China signed a Free Trade Agreement (FTA) on November 24, 2006, to boost economic cooperation. The China-Pakistan Free Trade Agreement (CPFTA) was signed on November 24, 2006 in Islamabad. It came into effect on July 1, 2007. Explanation The agreement covers trade in goods, investments, and trade in services. The second phase of the agreement was signed on April 28, 2019 and came into force on January 1, 2020. The second phase is expected to conclude in 2024. The agreement includes articles on: Establishment of a free trade area Tariff elimination Non-tariff barriers Rules of origin Trade remedies Sanitary and phyto-sanitary measures Investment Dispute settlement Negotiations Negotiations for the second phase of the agreement began in March 2011. The Agreement on Trade in Services was signed in Wuhan, China on February 21, 2009.