02 Mar 2017 (APP):
Free Trade Agreement (FTA) between Pakistan and Turkey to be signed in coming months of May 2017 which
would enhance bilateral trade between both of the countries.
Both sides would share provisional list for reaching the final agreement for FTA in coming round of dialogue.
Discussions will cover goods, services and investment areas.
Pakistan’s trade balance started decreasing at annual rate of 19 percent after additional duties imposed by Turkey in 2011, said a senior official of Ministry of Commerce today talking with APP.
The official said that Pakistan will get market space in agriculture and pharmaceutical sectors. He said that Pakistan’s major exports to Turkey are denim PET,ethanol, Cotton yarn,fabric, rice, garments, leather, carpets, surgical instruments,sports good,chemicals.
Pakistan’s major imports from Turkey are manmade textiles, towels, steel structure,tanning, plastic and chemicals, processed milk and whey,the official said.
Replying to a question, the Commerce Ministry official said that additional tariff imposed by Turkey in 2011 have a targeted impact on Pakistan’s major exports. He said that Turkey levied additional duty on 1880 products and Pakistan did the same in response.
This constitutes 17 percent on Turkish imports into Pakistan.
He told that after the signing of new FTA with Turkey both the countries will have again the same positive trade balance.”