The Banking Business Service Protocol of the Service Trade of the Free Trade Area between the Government of the People’s Republic of China and the Government of the Islamic Republic of Pakistan ( herein after referred to as the Protocol ) took effect on November 11 2015 since both China and Pakistan completed the internal approval process of their own.

This Protocol was jointly signed by the Chinese Minister of Commerce Gao Hucheng and the Pakistani Minister of Commerce Khurram Dastagir Khan in Islamabad on behalf of their own government respectively when Chinese President Xi Jinping paid a state visit to Pakistan on April 20 2015.

The coming into effect of the Protocol will further improve the liberalization level of the China-Pakistan FTA service trade, provide more financing convenience for the enterprises of the two countries and offer guarantee for the smooth implementation of the major projects such as the China-Pakistan economic corridor.