BEIJING, Nov 3: China will extend 400 million dollar preferential credit to Pakistan for undertaking new joint ventures with the support of the Chinese companies.

“The credit-limit of such a big amount would generate Chinese investment in the country,” Finance Minister Shaukat Aziz said here on Monday.

Briefing the newsmen about the PTA, commerce secretary Kamal Afsar said China had agreed to lessen duties on import items.

Pakistan would get tariff concession on 893 items for its export to China, whereas this concession would be available on 200 items to be exported by China. He hoped that Pakistani goods would be available in the Chinese market on competitive prices.—APP