ISLAMABAD: Islamabad Chamber of Small Traders on Monday said FTA with China has inflicted heavy losses on Pakistan’s economy, hence it should be reviewed and balanced immediately.

Many industrial units and SMEs have closed as a result of faulty trade deal resulting in massive unemployment, he said.

The deal is heavily tilted towards China as Beijing’s share in Pakistan total imports have jumped to 29 percent which must be reduced, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.

Pakistan is importing electric and electronic goods, machinery, ceramics, plywood, chipboard, bicycles, iron and steel, chemicals, fruits and vegetables and a lot more from the friendly country while exporting a few items due to taxes imposed by Chinese authorities, he added.

He said that China’s FTA with East Asian countries has resulted in further loss of exports are Pakistani goods are attracting higher tariffs in China as compared to the goods produced in East Asian nations.