China to infuse $1 billion in Pakistan development projects

The Chinese government is planning to invest $1 billion in Pakistan’s development projects, China’s Ambassador to Pakistan said on Saturday.

Speaking with the delegation led by Samina Fazil at the Islamabad Women’s Chamber of Commerce and Industry (IWCCI) at Islamabad Yao Jing, Chinese Ambassador at Pakistan said that, “As the second phase of the China-Pakistan Free Trade Agreement (CPFTA) will be finalized in October. which will allow a zero percent duct on 90% on Pakistani exported products like agriculture and seafood.”

“Which will increase the market access for Pakistan’s exports by 500 million, and will reduce the disparity between bilateral trade,” he added.

Speaking more on China’s plan for Pakistan, Yao said that “China has seen the satisfactory, pace in development projects under the China-Pakistan Economic Corridor (CPEC). To which China has planned to invest $1 billion more in Pakistan’s development projects.”