Pak-Turkey FTA to increase exports of textiles, agro and dairy and livestock products: Khurram Dastagir

Islamabad, February 23, 2015 (PPI-OT): Federal Minister of Commerce, Engr. Khurram Dastagir Khan has said that the MoC will conduct a pre-FTA study for the Pak-Turkey FTA and hold extensive discussions with the stake holders to strike the best possible deal for Pakistan. He said that the future trade agreements concluded by the Ministry of Commerce will be based upon market research and the lessons learnt from the previous trade agreements.

The Minister said that Pak-Turkey FTA will result in increase in exports in the textiles, agro and dairy and livestock sector. The MoC has constituted Services Export Council recently which will help promote the exports of software, insurance and banking services from Pakistan to Turkey.

The Ministry of Commerce has conducted review study of Pakistan’s FTAs with China, Malaysia and Sri Lanka to know the effects of these agreements on Pakistan’s economy and imports and exports. The mechanism adopted to conclude these trade agreements in the past is also scrutinized to include modern best practices of negotiations and trade agreements.

This will greatly enhance the institutional capacity of the MoC to become an efficient trade promotion institution which could safe guard the trade interests of the country at bilateral and multilateral forums. Mr. Dastagir said that high tariffs are giving way to low tariffs and in order to protect local manufacturing, more and more countries are resorting to trade defence mechanisms instead of high tariffs.

Pakistan is in the process of strengthening the institutional and human resource capacity of its trade defence organizations by empowering them through laws which will be implemented soon, the Minister said.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +92-51-9252323 and +92-51-9252324
Fax: +92-51-9252325 and +92-51-9252326
Email: piopid@gmail.com

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