Pakistan working towards FTA with Pacific South East nations
Pakistan aims to enhance multilateral trade with Pacific and South East Asian nations, and is proposing a Free Trade Agreement (FTA). Japan, Indonesia, Vietnam, the Philippines are among the countries on the list to start talking about Preferential Trade Agreements (PTAs) which will pave the way towards a FTA.
Pakistan and Indonesia have already agreed on concessions for 20 different items during bilateral negotiations under a Preferential Trade Agreement (PTA). According to geo.tv, both sides discussed 20 tariff lines and Indonesia agreed to major exports from Pakistan including rice, textile, ethanol, citrus (Kinnow) and mangoes.
As a result, Pakistani citrus exports to Indonesia will increase from 18 to 35 million tonnes and mango exports will increase to 10 million tonnes in a year. The earlier restriction on year-round exports to Indonesia have also been removed.
Publication date: 12/20/2017
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