
China plans to invest $1 bn in Pak development projects
Live MintChina is planning to invest $1 billion in development projects in Pakistan, Beijing's envoy here has said, as the two all-weather allies seek to further boost bilateral ties. Talking to a delegation at the Women’s Chamber of Commerce and Industry in Islamabad, China's Ambassador to Pakistan Yao Jing has said that the pace of development projects under the China-Pakistan Economic Corridor is satisfactory. Yao said that that the second phase of the China-Pakistan Free Trade Agreement will be finalised in October after which 90 per cent of Pakistani exports including agricultural products and seafood will attract a zero per cent duty. "Market access will increase Pakistan’s exports by USD 500 million, which will reduce the disparity between bilateral trade," said Yao.
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