ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issued concessionary rates for 6,786 tariff lines for goods imported under Second Phase of Free Trade Agreement (FTA) between Pakistan and China.
The notified rates will be effective from January 01, 2020 for next 15 years i.e. December 31, 2034.
The FBR issued SRO 1640(I)/2019 to implement the revised customs duties for goods imported from China.
The SRO said:
“S.R.O.1640(I)/2019.- In exercise of the powers conferred by section 19 of the Customs Act,1969 (IV of 1969), and in supersession of Notification No. S.R.O. 659(I)/2007,dated the 30th, June, 2007, the Federal Government is pleased to exempt, with effect from the first day of January, 2020, unless specified otherwise, the import into Pakistan from Peoples Republic of China of the goods specified in column (3) of the Table below, falling under the Heading and sub-Heading numbers of the First Schedule to the said Act as specified in column (2) of the said Table, from so much of the customs duty specified in the First Schedule as on the 1st January , 2020 to the said Act as in excess of the rates specified in columns (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16), (17) or (18) of the Table with effect from the corresponding date:
“Provided that the goods are manufactured or produced and imported in conformity with the Rules of Determination of Origin of Goods and the operational certification procedures for the Rules of Origin notified by the Ministry of Commerce vide No. S.R.O. 1286(I)/ 2005, dated the 24th December, 2005 read with the Import Policy Order, 2016:-
The second phase of China-Pakistan FTA came into effect earlier this month, allowing Pakistani manufacturers and traders to export more than 300 new products to the Chinese market for zero duty charges.
The two neighboring countries have already completed all legal procedures and formalities to start implementation of the agreement.
Pakistan and China signed a protocol for implementation of the agreement during the last visit of Prime Minister Imran Khan to China.
Pakistan is already enjoying zero duty on export of 724 products to China under the first FTA signed between the two countries in 2006.
The major products on which tariff has been eliminated are textiles, garments, seafood, meat, other animal products, prepared food, leather, chemicals, plastics, oilseeds, footwear as well as engineering goods including tractors, auto parts, and home appliance machinery.