Pakistan, Turkey FTA negotiations to begin in April

• Pakistan, Turkey have agreed on a Strategic Economic Framework (SEF), which is an all encompassing agreement, says Dawood.
• Dawood said that the two countries share a lot of synergy in the area of IT,

Pakistan and Turkey would start negotiations on the Free Trade Agreement (FTA) from April, informed Advisor to the Prime Minister for Commerce & Textile, Industry & Production and Investment, Abdul Razzak Dawood on Friday.

“The two leaders of the country has agreed on a Strategic Economic Framework (SEF), which is an all encompassing agreement, which includes trade and investment, tourism, defence and education,” said Dawood in his address, at the Pakistan-Turkey Business Investment Forum.

The advisor informed that the business community of both countries had a ‘very constructive’ round of discussions. “We have people here from construction, engineering, IT, mining, tourism and all aspects of business.”

Dawood informed that the two countries have signed an understanding to the way forward. “That understanding including that both sides has to scope and study as to what is relevant strength of each of them, and we have decided that the scoping study will be completed in the end of March.”

"We are now capable of becoming an ASEAN country and we will be the closest ASEAN country to Turkey," he said, adding that this visit will eventually lead to more trade between the two countries.

The advisor said that a textile delegation would go to Turkey, and we will look at how to boost business. “I invite the Turkish business community to come to Pakistan, form joint ventures, and let us collectively to look at the opportunity that we have got in China,” he said.

Dawood said that the two countries share a lot of synergy in the area of IT, he said that Turkey has agreed to help Pakistan in Halal accreditation, and also help Pakistan in understanding better the customs implementation and facilitation.