Pakistan, Tunisia likely to ink PTA soon: Envoy

FAISALABAD, Oct 24 (APP)::Tunisian Ambassador to Pakistan Mr.
Adel Al-Alarbi on Tuesday said that Preferential Trade Agreement
(PTA) was expected to be inked during the 9th Pakistan Tunisia
Ministerial Conference to be held soon in Tunisia.
Addressing the members of the Faisalabad Chamber of Commerce
and Industry (FCCI), he said that long awaited PTA would give a
quantum jump to bilateral trade between the two brotherly countries.
He said that after the last successful 8th session of the joint ministerial commission, Tunisia and Pakistani Authorities were
engaged in negotiation to finalize the modalities of the agreement.
He said that existing bilateral commercial and economic activities
were far below the potential of two countries and we must focus
on diversification of basket of tradable goods. “Currently, we
are at the last step of PTA which will allow both countries to
exchange list of tradable goods with a preferential trade tariff”,
he added.
He said the Tunisian Parliament had also approved a new investment
law to attract foreign investment. “This new code will give foreign investors more flexibility to transfer funds, including profits, out
of the country and remove taxes on profits of major projects for at
least ten years”, he said and added that a fund for investment had
also been created which would help financing of infrastructure projects
and funding to encourage investors to launch big projects in marginalized areas of the country.
In his address of welcome, Shabbir Hussain Chawla President FCCI
said that Pakistan’s exports to Tunisia were 23.022 million Dollars
whereas the imports were 6.111 Million dollars in 2016. Hence, the
balance of trade is in favor of Pakistan.
Mr. Chawla said that China-Pakistan Economic Corridor (CPEC)
was about to materialize which would provide new opportunities to
the whole world for Foreign Direct Investments (FDI) in Pakistan.
Senior Vice President Sheikh Farooq Yusuf offered vote of
thanks while documentaries on FCCI and Tunisia were also screened.
Later, former President Abdul Qayyum Sheikh and Executive Member Muhammad Umran Mehmood presented FCCI Shields to Mr. Adel Elarbi
Ambassador of Tunisia and Deputy Head of Mission Mr. Chaouki Msolla respectively.