China is about to exempt unwrought rolled aluminium alloy of Pakistan origin from customs duties


According to Pakistani media Business Recorder, prime minister of Pakistan Business, textile, industrial production and investment advisors ABU toure - belt - daud (Abdul Razak Dawood) said on Tuesday that Pakistan and China's free trade agreement (FTA), the second phase will be effective from December 1, 2019, to help Pakistan and the association of southeast Asian nations (ASEAN) equal status in the Chinese market, to provide manufacturers especially in garment industry tariff a huge chance to relax, to increase its exports, and is likely to increase 20 times.

The list of duty-free goods that came into effect on December 1 did not include unwrought rolled aluminum because Pakistan had never exported such goods to China before. According to Mr. Zam, former vice minister of industry and deputy director of the office of the prime minister, the inclusion of unwrought rolled aluminum in the first batch of commodities under the latest china-pakistan free trade agreement is to create conditions to support the transfer of China's renewable metal industry. In early 2019, the first chinese-invested recycling project, dexin metal (Pakistan) co., LTD. (operated under the name vig-pak recycling), was launched. Mr. Bader, Pakistan commercial counselor in China, actively coordinated the import tariff of unwrought rolled aluminum alloy from China. At present, the import tariff of unforged rolled aluminum alloy imported from China to Pakistan is 5%, which is significantly higher than the zero tariff from Malaysia and other asean countries, which is not conducive to the investment of Chinese renewable aluminum enterprises in Pakistan. With the signing of the new china-pakistan free trade agreement (FTA), unforged rolled aluminum alloy products have been included in the first batch of duty-free commodities through FTA under the efforts of all parties. From December 1, China will exempt unwrought rolled aluminium alloy made in Pakistan from tariffs. (From CCMN)