Report: First energy project under CPEC completed

Federal Minister for Commerce, Engr. Khurram Dastgir Khan chaired a meeting as a guest of honor, between Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) & delegation of China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT). He welcomed Mr. Wangyu, Vice Chairman CCCT and other Chinese delegation to Pakistan and appreciated the MoU on the Cooperation between Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) & China Chamber of Commerce for Import and Export of Textile and Apparel including Promotion of Trade and Investment
cooperation, exchange of ideas for sector development as well as organization
and participation in Fairs. The Mou also include cooperation in other areas such as exchange of information and support in business partner search, visits and events participation, training and working group arrangements.

The minister stated that the government of Pakistan & Commerce Ministry in particular will support the cooperation that has started between the CCCT and PRGMEA. While FTA with china is still Pakistan’s best and widest FTA but
still we have noted that since years China has done much more and
wider FTAs with other regions and countries in which the country has
offered deeper concessions to other regions compared to Pakistan, he noted.

“On govt. to govt. level we are trying to restore the margin
of preference that Pakistan originally had in 2006 and we urge
through the, CCCT to also speak to the govt. of china that Pakistan-
China FTA requires restoration of Preference”

“As govt. we are trying our best to address the trade imbalance
through reducing trade barriers and Pakistani govt. will provide
full support in reducing any barriers to the formation of joint
ventures between Pakistani and Chinese companies”

He informed that the first energy project under CPEC has been completed that is the 1320 MW electricity plant at Sahiwal.