ISLAMABAD, Pakistan: The Federal Ministry of Commerce in consultation with the Ministry of Foreign Affairs is reaching out to Eurasian Economic Union (EEU) to initiate a dialogue for Free Trade Agreement (FTA).
In a statement, an official of the Ministry of Commerce said that in last three years, Pakistan has not signed any trade agreement with the Russian Federation which is a member of Eurasian Economic Union (EEU), an economic union of Russia, Kazakhstan, Kyrgyzstan, Belarus and Armenia.
The official said that the bilateral trade between Pakistan and the Russian Federation was 390.29 million dollar during 2014-15 in which exports to Russia was 183.84 million dollars while imports were 206.45 million dollars.
In order to get competitive market access in the Russian Federation by lowering the customs duties applicable on Pakistani goods, the Commerce Ministry has requested the Ministry of Foreign Affairs to request the Eurasian Economic Union for initiation of talks for a Free Trade Agreement.
