Pakistan to get over $200m benefits after signing FTA with Thailand

ISLAMABAD: Pakistan would get benefits of $200 million after signing the free trade agreement (FTA) with Thailand.

Pakistan and Thailand would present their final list of FTA incoming round of negotiation scheduled for September that is aimed at increasing trade liberalisation between both the countries.

Both sides had exchanged the final offer lists of items for free trade, including automobile and textile sectors in order to remove the reservations of both sectors.

Pakistan wants concession on 110 products on textiles, agro-products, plastic and Pharmaceuticals as the same was granted by Thailand to other FTA partners in these products, a top official of the commerce ministry told APP.

He said that Pakistan had relative advantages over Thailand in some 684 commodities including cotton yarn and woven textiles, ready-made garments, leather products, surgical instruments and sports goods.

While talking on the second phase of Pak-China FTA, he said China had agreed to provide market access to 58 items, shared by Pakistan besides providing concession on all items included in the offer list.

“We want the concession on 70 export items and low tariff line on products for further trade liberalisation in the second phase of FTA between Pakistan and China,” he said.

He said that Pakistan was desirous to have duty relaxation on 70 products before launching the phase-II as the same was given by China to ASEAN countries.

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