Pakistan to sign FTA with Turkey, Thailand in three months

Government of PakistanPakistan to sign FTA with Turkey, Thailand in three months

ISLAMABAD, Pakistan: High level delegations from Turkey and Thailand will arrive in Islamabad on January 17 to negotiate Free Trade Agreements (FTAs) which are likely to be signed within three months.

“Delegations from Turkey and Thailand are coming for negotiations on January 17 to speed up the process and negotiate commodity lists and tariff rates,” a top official in the Ministry of Commerce said.

Talking about the FTA with China, the official said, that Phase-II of the FTA with China was also due. He said FTA between the two countries was signed back in 2007.

However, he added that Pakistan was desirous to have duty relaxation on 50 products before launching the phase-II.

He said that Pakistan wanted relaxation on these products to protect the local market and ensure competitiveness.

Replying to question he said that currently local market was not in position to compete with mature economies.

“We are just coping with energy demands for local market, and the market would take some time to boost its production and growth,” he remarked.

He was of the view that once the Phase-II of FTA with China is launched, it would bound both the countries to have zero tariffs, however at this stage it would be difficult for Pakistani economy to provide such concessions.

He said that China has been giving us good offers to enter in FTA phase-II and both sides also agree on the demand list.

“We demanded unilateral relaxation on 50 different product for coming few years before signing Phase-II of FTA.”

“We are in consultation with exporters, chambers including all stakeholder to involve them with policy dialogues and getting their inputs in Free Trade Agreement (FTA) with these countries,” he said.

Replying to question, he said that the government is committed to protect the local market to provide competitive environment for the exporters and market.

Source: APP

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

Minority Forum Pakistan

Role of Political Leadership in Protecting Minority Rights

0
Rawalpindi, Pakistan: Minority Forum Pakistan organized a seminar titled Role of Political Leadership in Protecting Minority Rights, focusing on commitments outlined in political party...
Funeral prayers of martyred Rangers attended by COAS Gen Asim Munir and PM Shehbaz Sharif 

The propaganda campaign of Zionists and Indians against Pakistan led by PTI and the...

0
Islamabad, Pakistan: Pakistan is facing many challenges, the biggest challenge of which is the negative propaganda of the PTI and its foreign lobbies, including...

Joint Task Force established to identify persons behind propaganda against Pakistan

0
Islamabad, Pakistan: A Joint Task Force was formed to identify those involved in malicious propaganda against the state of Pakistan. The Joint Task Force...
The author Dr. Attia Anwar is a consultant family physician with a postgraduate degree from the Royal College of GP UK. She is a strong advocate of health and well-being and wants patient participation in decision-making regarding health.

Interdependence

0
By Dr Attia Anwar“No man is an island, entire of itself. Every man is a piece of the continent, a part of the...

Two more men in uniform laid their lives for motherland

0
Islamabad, Pakistan: Eight khwarij have been sent to hell in two separate operations conducted in Khyber Pukhtunkhwa Province from 29 November to 1 December...
Advertisement