ISLAMABAD – Pakistan would evaluate trade policy according to modern trendsand Strategic policy framework 2015-19 would also be implemented in letterand spirit to boost the country’s exports.
Pakistan is committed to search the new trade avenues in different regionsof the world including, South American, Africa and South East Asian tradedestination, a senior official of ministry of commerce told APP here onThursday.
Replying to a question, he said that Free Trade Agreement (FTA) withdifferent countries including Turkey, China and Thailand were undernegotiation phase.
While talking on second phase of Pak-China FTA, he said China had agreed toprovide market access to 58 items, shared by Pakistan besides providingconcession on all items included in the offer list.
He added that coming round of negotiation with China under 2nd phase of FTAwould held in October, 2018 in Islamabad.
Replying to another question, he said that Pakistan would get benefits of $200 million after signing the free Free Trade Agreement (FTA) with Thailandand also enhancing the trade volume between both nations.
The official said that Pakistan and Thailand would present their completefinal list of Free Trade Agreement (FTA) in coming round of negotiationstart in mid of September, 2018 for increasing trade liberalization betweenboth the countries.
Both sides had exchanged the final offer lists of items for free trade,including automobile and textile sectors in order to remove thereservations of both sectors, Pakistan wants concession on 110 products ontextiles, agro-products, plastic and Pharmaceuticals as same Thailandgranted to other FTA partners in these products, he said.
Replying to another question, he said that Pakistan and Indonesia havefinalized the review process for the bilateral preferential trade agreementthat is likely to enhance local exports to the South East Asian country by$210 million a year.
Currently, Pakistan and Indonesia have annual bilateral trade volume of$180 million, which was expected to increase to $370 million afterrenegotiation on the preferential trade agreement between the twocountries, he said.Both the countries agreed to expand preferential tradeagreement, which was signed in February 2012, and go for a free tradeagreement between them, the official said.
The ministry’s official said Pakistan wants to initiate negotiation withPacific and South East Asian nations on proposed free trade agreement toincrease trade and competitiveness.Countries including Japan, Indonesia,Vietnam and Philippines are in the list for starting dialogue onpreferential trade agreement that leads to FTA for promoting tradeliberalization, he said. – APP