Impacts of China-Pakistan trade pattern and policy adjustment on cotton yarn FACNY YARN

Chinese President Xi Jinping met with Pakistani Prime Minister Imran Khan in Beijing on April 28, during which the representatives of the two countries formally signed the "Protocol of the Government of the People's Republic of China and the Government of the Islamic Republic of Pakistan on Amending the Free Trade Agreement", symbolizing the second phase of the bilateral trade agreement between China and Pakistan took effect. As early as 2005, the two sides launched a mutually beneficial agreement. At that time, China decided to impose a zero import tax on products imported from Pakistan for 769 items, mainly textile products. Similarly, Pakistan also exempted tariffs on 486 types of products imported from China. In 2006, China-Pakistan signed the "Free Trade Agreement between the Government of the People's Republic of China and the Government of the Islamic Republic of Pakistan", which was implemented in 2007. Since then, bilateral trading value of China and Pakistan increased quickly.