Pakistan and Turkey reviewed the proposed Preferential Economic Agreement (PTA) in products on Thursday in order to promote trade liberalisation and bilateral trade. According to a statement issued by the Ministry of Commerce, both parties stressed the necessity of completing the PTA in goods as soon as possible since it would open up new chances to expand bilateral trade across all sectors and would be mutually beneficial.
During the last 25 years the exports of Pakistan to Turkey have increased at an annualised rate of 4.01%, from $148M in 1995 to $394M in 2020. In 2020, Turkey exported $630M to Pakistan. The main products that Turkey exported to Pakistan were Hot-Rolled Iron ($53.5M), Compasses ($38.5M), and Non-Retail Pure Cotton Yarn ($36.1M). During the last 25 years the exports of Turkey to Pakistan have increased at an annualised rate of 8.11%, from $89.8M in 1995 to $630M in 2020. In 2020, Turkey did not export any services to Pakistan.
In 2020, Pakistan exported $394M to Turkey. The main products that Pakistan exported to Turkey are Electric Generating Sets ($92M), Heavy Pure Woven Cotton ($79.7M), and Non-Retail Pure Cotton Yarn ($31.9M). During the last 25 years the exports of Pakistan to Turkey have increased at an annualised rate of 4.01%, from $148M in 1995 to $394M in 2020. In 2020, Pakistan did not export any services to Turkey.
In 2020, Pakistan ranked 93 in the Economic Complexity Index (ECI -0.71), and 65 in total exports ($25.5B). That same year, Turkey ranked 38 in the Economic Complexity Index (ECI 0.58), and 29 in total exports ($177B). The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
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