Business

Pakistan, Turkey: FTA likely to be signed in May

Pakistan will get market space in agriculture and pharmaceutical sectors

APP March 04, 2017

The envoy said that Preferential Trade Agreement (PTA) between the two countries had been signed in 2013 and a Free Trade Agreement (FTA) is likely to be inked in 2015. PHOTO: FILE

ISLAMABAD: The Free Trade Agreement (FTA) between Pakistan and Turkey is likely to be signed by May 2017, which would enhance bilateral trade between both countries, said an official at the Ministry of Commerce. Both sides would share a provisional list for reaching the final agreement on the FTA in the upcoming round of dialogues. Pakistan’s trade balance started decreasing at an annual rate of 19% after additional duties were imposed by Turkey in 2011, said the official. He added that Pakistan will get market space in agriculture and pharmaceutical sectors. Replying to a question, the commerce ministry official said that additional tariff imposed by Turkey in 2011 had a targeted impact on Pakistan’s major exports.

Published in The Express Tribune, March 4^th, 2017.

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