ISLAMABAD: Pakistan-Turkey Free Trade Agreement (FTA) will be signed on August 14, an official of the Ministry of Commerce told APP on Wednesday.

The seventh round of negotiations on the FTA will be held by the end of the current month in Turkey to finalise the agreement.

He said the two sides will exchange provisional lists for the final agreement in the upcoming round of dialogue.

“Pakistan’s trade balance with Turkey was positive until 2011 but the imposition of duties and their upward revision changed the situation,” he said.

After the FTA with Turkey, both countries are expected to improve their trade volumes, he added.

The official said Pakistan is expected to get some advantage in agriculture and pharmaceutical sectors in Turkey. Pakistan’s major imports from Turkey include manmade textiles, towels, steel structure, tanning and plastic chemicals and processed milk. Exports to Turkey are ethanol, cotton yarn, fabric, rice, garments, leather, carpets, surgical instruments, sports goods and chemicals.

Published in Dawn, May 11th, 2017