Pakistan Turkey FTA to take bilateral trade near $4 billion

Pakistan Turkey FTA to take bilateral trade near $4 billion
Shares

KARACHI - President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Engr. Daroo Khan Achakzai has appreciated the efforts of Governments of Pakistan and Turkey to enter Strategic Economic Framework (SEF) for enhancement of bilateral relations in various sectors including trade, tourism, healthcare, hospitality, industry, education, housing, agriculture, aviation and banking. He stated the main purpose of SEF was to enhance bilateral trade by five times from current volume of $ 800 million (approximately). For achieving this goal, it was expected that both the governments might sign Free Trade Agreement during the current year. Pakistan and Turkey both were the members of ECO, D-8, CACCI and OIC and the existing trade volume does not reflect the strong friendly relations, said a FPCCI release here on Monday. FPCCI president urged the government of Pakistan to resolve/negotiate on all anti-dumping barriers imposed by Turkey on Pakistani textile and other items before the signing of the FTA .

These anti-dumping and safeguard measures reduced Pakistan's export to Turkey to $ 327 million from $ 850 million in 2011. Textile and rice were the main exportable items of Pakistan facing high tariff rates in Turkey. The imposition of extra duty on Pakistan's textile in terms of safeguard and anti-dumping makes our product uncompetitive in Turkey. He suggested that under the FTA government of Pakistan should demand the same duty structures on textile products, which Turkey had given to Egypt and Jordan under FTA .

Engr. Daroo Khan Achakzai said there were huge export potential available in plastic items, sports goods, carpet, fruits, agriculture products and leather goods. Turkey should give concessions in tariff rates to Pakistan. He mentioned Turkey was currently importing surgical items from Germany that were originally manufactured in Pakistan.

Automobile industry was one the growing industries of Pakistan and this should not be affected under FTA with Turkey. Apart from trade, the FTA should also facilitate the investment opportunities between both nations, he suggested.

More from this category