ANKARA,
28 July 2016: The third round of Pakistan-Turkey Free Trade Agreement (FTA) negotiations
was held at the Ministry of Economy,
Ankara, from 25-27 July 2016.
Mrs.
Robina Athar, Additional Secretary (Trade Diplomacy), Ministry of Commerce, led
the Pakistan delegation, comprising officials of Ministry of Commerce, Board of
Investment and Federal Board of Revenue. The Turkish side was led by Mr. Husnu
Dilemre, Deputy Undersecretary, Ministry of Economy, Government of Turkey.
The
Consul General of Pakistan in Istanbul Dr. Yusuf Junaid and Ambassador to
Turkey Sohail Mahmood also joined.
The
two sides discussed draft texts for Agreements on Trade in Goods, Services and
Investments. During the negotiations, matters pertaining to tariffs, customs
facilitation, safeguard measures, rules of origin, tariff reduction modality,
bilateral investment mechanisms, and services were discussed extensively. Both
sides expressed satisfaction at the progress made in the negotiations so far.
Building
upon excellent political relations and vision of the political leadership of
the two countries to forge a strong economic partnership, both sides agreed to
continue to pursue FTA negotiations on a fast-track basis, with a view to
spuring development through enhanced levels of bilateral trade.
The
decision to initiate negotiations for a comprehensive bilateral Free Trade
Agreement (FTA) -- covering trade in goods, services and investments -- was
taken at the 4th Session of the High Level Strategic Cooperacion Council
(HLSCC) in Islamabad in February 2015, co-chaired by the Prime Ministers of
Pakistan and Turkey.
After
holding the inaugural session of FTA negotiations in Ankara in October 2015,
the two sides signed the “Framework Agreement” for the FTA in Islamabad in
March 2016.
Both
sides have decided to hold the next round of FTA talks in Islamabad in August
2016.
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