At the ceremony held at the Prime Minister’s Residence in the capital city of Pakistan, Islamabad, Trade Minister Mehmet Mus and Pakistan Trade Minister Seyid Navid Kamar signed the Goods Trade Agreement between the two countries.
In his statement after the signing ceremony, Prime Minister Shahbaz Sharif emphasized that this agreement is a cornerstone in the historical relations between Ankara and Islamabad, and stated that this will create many opportunities for the two countries.
Sharif pointed out that the capacity of Pakistan and Turkiye is beyond imagination and noted that the signed agreement will increase trade and investments.
Noting that the relations with Pakistan have deep roots, Trade Minister Mus said that today is an important turning point in the economic and commercial relations between the two countries.
Emphasizing that this agreement will be one of the most important tools to achieve the targeted $5 billion trade volume between the two countries, Mus stated that the agreement will serve to expand and diversify bilateral trade.
In his meeting with his Pakistani counterpart Kamar, Mus noted that they agreed to start negotiations to expand the agreement to the service, investment and e-commerce sector.
Emphasis on “FREE TRADE AGREEMENT”
Pakistani Trade Minister Kamar emphasized that this agreement will lead to the signing of a long-negotiated free trade agreement between the two countries and that its signing is a matter of time.
In the statement made by the Prime Minister’s Office of Pakistan on 21 July, it was stated that the Council of Ministers had approved the Goods Trade Agreement with Turkiye. In the statement, it was stated that Turkiye would grant concessions to Pakistan on 261 products and would not apply value added tax on 123 of them, in return, Pakistan would grant privileges to Turkiye in customs tariffs for 130 products.
Source: Sabah / Translated by Irem Yildiz