2nd round of Pak-Iran FTA talks in July

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ISLAMABAD, May 17 (APP): The second round of negotiations between Pakistan and Iran on Free Trade Agreement (FTA) will be held here in July to discuss ways to enhance trade volume.
Reveiwing mutual trade list will be on the agena of the talks for finalizing the agreement, a senior official of the Ministry of Commerce said on Wednesday.
Talking to APP, he said a joint ministerial level meeting between the two countries was scheduled next month to hold preparatory discussions for the FTA.
“We are looking forward for talks to enhance bilateral trade and export to Iran,” he added.
Regarding FTA with China, he said its second phase was also due. However, Pakistan was desirous to have duty relaxation on 50 products before its launch, he added.
“We want unilateral relaxation on 50 products for a few years before signing Phase-II of the FTA,” the official said.
Replying to question, he said relaxation of duty was aimed at protecting local market and ensuring competitiveness.
Once the Phase-II of FTA with China was launched, it would bind both the countries to have zero tariffs, which at present would not be favourable for Pakistani economy.