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

Rome’s Affordable Real Estate Draws Increasing Investor Interest

As Milan’s real estate boom starts to stabilize, investors are increasingly looking toward Rome as…

1 day ago

Dubai’s Second Tallest Tower Burj Azizi Shatters Records with Global Luxury Sales Launch

Dubai’s skyline is set to welcome a new icon as Azizi Developments launches global sales…

4 days ago

Real Estate Set to Surge as Government Plans to Scrap FED on Property Deals

The federal government is considering removing the Federal Excise Duty (FED) on the transfer of…

5 days ago

Egypt Launches MLS-Powered Real Estate Platform for Transparency & Investment

Under the patronage of Minister of Housing and New Urban Communities Sherif El-Sherbiny and Minister…

5 days ago

CDA to Hold Open Auction for Commercial Plots in Islamabad from February 25

The Capital Development Authority (CDA) has scheduled an open auction for commercial plots at Jinnah…

5 days ago

Islamabad’s Three Day Spring Festival Set to Wow Visitors with Cultural Showcase

The capital city of Pakistan is gearing up for a grand celebration as Interior Minister…

6 days ago