Pak-Turkey FTA to be signed on Aug, 14


ISLAMABAD, May 10 (APP): Pakistan and Turkey’s Free Trade
Agreement (FTA) will be signed on August 14, for enhancing the
bilateral trade between two countries.
The seventh round of negotiations on Free Trade Agreement
(FTA) between Pakistan and Turkey would be held by the end of
current month in Turkey to finalize the agreement, a senior official of
Ministry of Commerce told APP here on Wednesday.
Pakistan and Turkey will also discuss specific sectors
including textile sector during the negotiation.
He said the two sides would exchange provisional lists for a
final agreement in upcoming round of dialogue.
“Pakistan’s trade balance with Turkey remained positive until
2011, however, it started decreasing since 2011, when additional
duties on various commodities were imposed by the two countries,”
he said.
The official said the two sides will hold discussions on
agreement on goods,services and investment.
After signing of new FTA with Turkey, both the countries, gain
will be able to improve their trade balance, he added.
The official said that Pakistan will get market space in
agriculture and pharmaceutical sector in Turkey.
He said that Pakistan’s major imports from Turkey include
manmade textiles, towels, steel structure, tanning and plastic
chemicals, processed milk and whey.
Whereas, he said the country’s major exports to Turkey are
denim PET, ethanol, cotton yarn, fabric and rice, garments,leather,
carpets, surgical instruments,sports good, chemicals.