Another big news for Pakistan, Pakistan and China going to sign a Free Trade Agreement (FTA)-II. The agreement will be signed during PM Imran Khan’s visit to China. Under the FTA-II agreement, Pakistan will export up to 300,000 metric tons of sugar to China. Due to this agreement, there will be a great rise in exports, which will help Pakistan to earn an extra $110 million in revenue. Also, it is expected that under FTA-II agreement Pakistan’s export will enhance and generate up to $3.2 billion till 2020.
Pakistan will start exporting 300,000 metric tonnes (MT) of sugar to China from the month of June 2019.
Beijing has placed the order with Islamabad after signing the Free Trade Agreement (FTA), and resultantly the trade between both countries have surged.
Pakistan expects to generate more than 110 million US$ in revenue from the export of sugar to China.
Pakistan’s exports to China are expected to reach 2.2billion US$ in the ongoing calendar year and 3.2billion US$ in 2020