7th round of Pak-Turkey FTA negotiation a milestone to final agreement

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ISLAMABAD, July 9 (APP): The seventh round of negotiations on
Free Trade Agreement (FTA) between Pakistan and Turkey was milestone to reach the final agreement.
Secretary Ministry of Commerce Younas Dhaga led Pakistan’s
delegation in negotiation on FTA between Pakistan and Turkey.
Pakistan and Turkey had discussed the specific sectors
including textile sector during the negotiation, a senior official
of Ministry of Commerce told APP here.
He said the two sides had exchanged provisional lists for a
final agreement in round of negotiation.
Pakistan and Turkey’s Free Trade Agreement (FTA) will be
signed on August 14, for enhancing the bilateral trade between two
countries.
“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 carrying 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.