KARACHI: (APP) Commercial Attache of Turkish Consulate Murat Mustu has said that the negotiations for free trade agreement (FTA) between Pakistan and Turkey will be finalized in December 2016 that will be followed by signing of FTA between the two brotherly countries.
In his presentation on "Recent Developments in Turkey and key-Pakistan FTA Negotiations" during his visit to Karachi Chamber , the Commercial Attache informed that both parties will meet in Istanbul by the end of October 2016 to review request lists.
He was fairly optimistic that after the FTA comes into force, trade between Pakistan and Turkey will improve substantially. This agreement will prove very favorable for the two economies.
Vice Chairman Businessmen Group and former president KCCI Anjum Nisar, President KCCI Younus Muhammad Bashir, Senior Vice President KCCI Zia Ahmed Khan, Vice President KCCI Muhammad Naeem Sharif were also present.
Terming it a "New Generation FTA", Murat Mustu said that Pakistan-Turkey FTA focuses on liberalization in trade of goods, services and investment.
According to the presentation, Turkey has signed FTA with a total of 23 countries whereas FTA negotiations with 14 countries including Pakistan were also underway.
Earlier, President KCCI Younus Muhammad Bashir appreciated the Turkish government for their support and cooperation being accorded to Karachi Chamber through the Turkish embassy and its Consulate in Karachi.
Karachi Chamber was keen to strengthen trade ties and exploring new bilateral trade prospects with Turkey as Pakistan's improved relations and enhanced trade with countries like Turkey would surely help in dealing with the economic crisis and ensure prosperity for both the countries.
Commenting on Pakistan-Turkey economic relations, he said that both countries have significant trade volume. In 2015-16, Pakistan exported commodities of worth $ 215 million and imported commodities of worth $ 249 million.