Pakistan and Turkey are due to hold the 6th round of negotiations on Free Trade Agreement (FTA) in April, which had been postponed due to Prime Minister visit to Turkey.
Pakistan and Turkey will discuss specific items on the trade agenda including the textile sector.
Both sides will hold discussions on agreement on goods, services and investment. Pakistan’s trade balance started decreasing after additional duties were put in place in 2011, a senior official of Ministry of Commerce is reported to have said. He added that prior to this, Pakistan enjoyed a positive trade balance with Turkey.
After the signing of the new FTA with Turkey, both countries will again have the same positive trade balance, he stated. The official further added that Pakistan will get market space in agriculture and pharmaceutical sector.
Replying to a question, he said both sides would exchange provisional lists for a final agreement in the upcoming round of dialogue.
The official said that Pakistan’s major exports to Turkey are denim PET, ethanol, cotton yarn, fabric and rice, garments, leather, carpets, surgical instruments, sports good, chemicals.
Pakistan’s major imports from Turkey include manmade textiles, towels, steel structure, tanning and plastic chemicals, processed milk and whey, he added.
