ISLAMABAD: Minister for Commerce and Textile Muhammad Pervaiz Malik Friday informed the Senate that so far Pakistan has signed Free Trade Agreements (FTA) with China, Sri Lanka and Malaysia.
Replying to questions in the Senate, during question hour, he said Pakistan signed FTA with Sri Lanka on August, 01, 2002, with China on November 24, 2006 and with Malaysia on November 08, 2007.
Giving further details, about the volume of trade with these countries, he said during 2014-15 the exports from Pakistan to Sri Lanka remained 272.41 million US dollars, and imports from Sri Lanka were 337.52 million US dollars. In 2016-17 the exports to Sri Lanka were 263.36 million US dollars while imports from Sri Lanka were 81.11 million dollars.
Regarding trade with China, the Commerce Minister said during 2014-15, the export to China from Pakistan stood at 2,126.854 million US dollars and the imports from China were 10,172.731 million dollars. In 2016-17 the exports to China reduced to 1,463.30 million dollars and imports from China increased to 14,133.92 million US dollars and the total trade volume with china reached to 15,597.22 million dollars which is in favour of China.
About trade with Malaysia, he informed the Senate that during 2014-15 the exports from Pakistan to Malaysia were 205.12 million US dollars and the imports from Malaysia were 1,155.48 million US dollars. In 2016-17 the exports from Pakistan to Malaysia decreased to 136.76 million US dollars and the imports from Malaysia also decreased to 917.65 million dollars