Pakistan and Turkey’s Free Trade Agreement (FTA) will be signed on August 14, for enhancing the bilateral trade between two countries. The seventh round of negotiations between the two countries on Free Trade Agreement (FTA) was milestone to reach the final agreement.
Secretary Ministry of Commerce Younas Dhaga led Pakistan’s delegation in negotiation on FTA between Pakistan and Turkey. Pakistan and Turkey discussed the specific sectors including textile sector during the negotiation, a senior official of Ministry of Commerce said.
The two sides exchanged provisional lists for a final agreement in round of negotiation.
Pakistan’s trade balance with Turkey remained positive until 2011,however, it started decreasing since 2011, when additional duties on various commodities were imposed by the two countries.
Pakistan’s major imports from Turkey include manmade textiles, towels, steel structure, tanning and plastic chemicals, processed milk and whey.
Whereas, the country’s major exports to Turkey are denim PET, ethanol, cotton yarn, fabric and rice, garments, leather, carpets, surgical instruments, sports good, chemicals.
The official said that after signing the FTA agreement Pakistan will get market space in agriculture and pharmaceutical sector in Turkey.
Swisstulle adopted JigMaster for its dyeing and finishing operations, especially for high-quality technical textiles used in fashion and automotive industries.
Birla Cellulose, a leader under the Aditya Birla Group, has announced a long-term partnership with Circ, a U.S.-based textile recycling…
CARBIOS has collaborated with leading brands Patagonia, PUMA, Salomon etc. to create a groundbreaking polyester garment made entirely from textile…
Yangi, renowned for its renewable packaging solutions, has launched a fiber-based food tray as a sustainable alternative to plastic trays…
The European Tarpaulife Project is working on polyolefin-coated fabrics, such as polyethylene, that can be manufactured to compete with PVC-coated…
Better Cotton has joined the global non-profit alliance, Cascale, in a three-year project aimed at standardising LCA methods across the…