Pak-Turkey FTA to be signed by mid- June
A free trade agreement (FTA) between Islamabad and Ankara is
reportedly expected to be signed by mid-June. The decision
followed the conclusion of the 9th round of negotiation between
the two sides, which agreed on the final list of tariff lines.
Turkey also agreed to offer duty-free access to textile products
from Pakistan in its market.
The FTA dialogue would conclude in June, followed by a final
agreement to boost bilateral trade, a news agency reported
citing anonymous Pakistani commerce ministry official.
Pakistan would finalise the FTA under the Pakistan-Turkey
Strategic Economic Framework (SEF) plan of action. The proposed
sectors for enhancing the cooperation include textile, tourism
and culture, investment in industrial cooperation, auto
industry, agriculture, banking and finance.
Turkey has also agreed on treatment basis to offer the lowest
tariff on all tariff lines which was given to other trading
partners in the past, the official said.
Pakistanís major exports to Turkey included denim PET, ethanol,
cotton yarn, fabric and rice, garments, leather, carpets,
surgical instruments, sports goods and chemicals.