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Pakistan, Turkey free trade pact in May

The Nation | 2 March 2017

Pakistan, Turkey free trade pact in May

Pakistan and Turkey will sign the long-awaited Free Trade Agreement in May which will pave way for the South Asian nation to enter Turkey’s agriculture and pharmaceutical market.

Discussions in this regard will take place soon and both the countries will share the provisional list on FTA, an official with the commerce ministry told APP. The two sides will also hold discussions on goods, services and investment, he added.

"After the new FTA with Turkey both the countries will witness an upward trajectory in trade balance."

Pakistan’s trade balance started declining at an annual rate of 19 per cent after additional duties imposed by Turkey in 2011. Turkey levied additional duty on 1,880 products that prompted Pakistan to tax Turkish products entering the country.

 source: The Nation