Business

ISLAMABAD – Pakistan would get benefits of $ 200 million after signing the free Free Trade Agreement (FTA) with Thailand and also enhancing the trade volume between both nation.

Pakistan and Thailand would present their complete final list of Free Trade Agreement (FTA) in coming round of negotiation start in mid of September ,2018 for increasing trade liberalization between both the countries.

A Free Trade Agreement (FTA) between Pakistan and Thailand will be signed in last week of December 2018 to reach the final agreement, a top official of Ministry of Commerce told APP here Wednesday.

The 10th round on FTA negotiation will start between Pakistan and Thailand by mid of September ,2018, he said.

Both sides had exchanged the final offer lists of items for free trade, including automobile and textile sectors in order to remove the reservations of both sectors, Pakistan wants concession on 110 products on textiles, agro-products, plastic and Pharmaceuticals as same Thailand granted to other FTA partners in these products, he said.

He said that Pakistan had relative advantages over Thailand in some 684 commodities including cotton yarn  and woven textiles, ready made garments, leather products, surgical instruments and sports goods.

While talking on second phase of Pak-China FTA, he said China had agreed to provide market access to 58 items, shared by Pakistan besides providing concession on all items included in the offer list.

He added that coming round of negotiation with China under 2nd phase of FTA would held in coming month of October, 2018 in Islamabad.

This acceptance came during the negotiations held under 2nd phase of Pak-China Free Trade Agreement (FTA) in China.

“We wants the concession on 70 export items and low tariff line on products for further trade liberalization in 2nd phase of FTA between Pakistan and China,” he said.

He said that Pakistan was desirous to have duty relaxation on 70 products before launching the phase-II as same China given to Association of South East Asian Nation (ASEAN) countries.