Exports to jump $500m in first year after FTA-II

LAHORE: After the implementation of the Phase-II of Free Trade Agreement (FTA) with China from December 1, Pakistan’s exports are likely to rise by $500 million in the first year, informed Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood.

invest with imarat

Islamabad’s emerging city centre

Learn More

The announcement was made after finalising an agreement between China’s Chaoyang Long March Tyre Company and Pakistan’s Service Tyre Industries Limited as they joined hands for tyre manufacturing.

Revealing details related to the joint venture between both the countries, the adviser said that 70% of the tyres manufactured by the joint venture would be exported and the remaining 30% would be supplied to the domestic market.

He further elaborated on the Phase-I of the project worth $250-million. The project will begin with an investment of $100 million in the SITE area of Sindh to change the economic dynamics of the region, for which land had already been acquired and work on the plant’s design had been initiated.

For news and blogs, visit Graana.com.

Maham Tahir

Recent Posts

Garha Mor: A Notable Landmark in Vehari City

Garha Mor, a notable landmark in Vehari, Punjab, Pakistan, is significant in its location, accessibility,…

1 day ago

Aslam Market Wah Cantt: Pleasure of Shopping & Dinning

Located in the center of Wah Cantt, Aslam Market is a vibrant commercial hub that…

2 days ago

Abid Market Lahore: An Iconic Shopping Landmark

Located in the bustling heart of Lahore, Abid Market is a landmark shopping area well…

3 days ago

CDA Chairman Urges Rapid Completion of Major Islamabad Interchanges

ISLAMABAD, Nov 16 (APP): The Chairman of the Capital Development Authority (CDA), Muhammad Ali Randhawa,…

3 days ago

IMARAT Announces Launch of Pakistan’s Largest Sharia-Compliant REIT – A New Era of Real Estate Investment

Islamabad, Pakistan— IMARAT Group, a leading real estate developer and innovator in Pakistan, announces the…

3 days ago

Amma Tower: A Landmark in Urban Living & Commerce

Amma Tower, located in the bustling area of Saddar in Karachi, is a unique blend…

4 days ago