FTA to be signed between Pak-Iran after resumption of banking channels

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ISLAMABAD, April 6 (APP):Pakistan-Iran Free Trade Agreement
(FTA) would be signed between the two countries after State Bank of
Pakistan and Central Bank of Iran resume banking channels.
Joint Ministerial level meeting between Pakistan and Iran
would be held in Tehran on April 18, for negotiation on bilateral
trade and FTA between the two countries, a senior official of
Ministry of Commerce told APP here.
“We are very much looking forward to progress on the bilateral
trade and enhance export to Iran,” he said.
Talking about FTA with China, he said its second phase was
also due.
However, Pakistan was desirous to have duty relaxation on 50
products before launching the Phase-II, he added.
“We demanded unilateral relaxation on 50 different products
for few years before signing Phase-II of FTA,” the official said.
Replying to question, he said Pakistan wanted relaxation on
these products to protect the local market and ensure
competitiveness.
He was of the view that once the Phase-II of FTA with China
was launched, it would bind both the countries to have zero tariffs,
however at this stage it would be difficult for Pakistani economy to
provide such concessions.