ISLAMABAD, Jan 18: Pakistan and Singapore on Wednesday concluded the second round of negotiation on Free Trade Agreement (FTA) with a consensus to make the draft ready for signing in the next three months.

A senior official told Dawn that the third round would be held in April next in Singapore to develop consensus on the remaining articles of the FTA.

During the last three days, the official said, the two sides developed consensus on main chapters—investment, information technology and services.

According to the official, the trade in services will be on the basis of a positive list. The list of items for duty reduction will be finalized in consultation with the stakeholders of the two countries.

Both sides reiterated to finalize the list latest by March next, which would be exchanged before or in the third round of negotiations.

The official said that both sides, however, would have to deliberate, at length, on finalization of the rules of origin which would be the only issue to be decided in the next meeting.

Joint Secretary Ministry of Commerce, Shahid Bashir, led the Pakistani delegation at the meeting. He was accompanied by representatives of the Central Board of Revenue (CBR), State Bank of Pakistan, Ministry of Finance and Board of Investment(BoI).

The official said that the construction industry was one of Singapore’s strong points, Pakistan was short of five million housing units and would welcome investment in the housing and hotel industry, development of information technology (IT) parks in Pakistan, IT universities, availability of English speaking IT manpower for front-offices in Singapore, setting up of a Singapore industrial estate in Pakistan, recognition of the degrees of top medical institutions and post graduate degrees, diplomas of college of physician and surgeons of Pakistan.

Pakistan will also consider to set up nursing colleges in collaboration with Singapore Nursing Board in joint venture with the existing nursing outfits in the private and public sectors in Pakistan, scholarships scheme for Pakistani graduates and PhD students in Singapore universities, joint research projects in medical, engineering, life sciences, resumption of Singapore airlines flights and joint promotion of Pakistan’s tourist destinations, including Pakistan’s rich Buddhist heritage, exchange of culture troupe, collaboration between Singapore Cable Vision and Pakistan’s private channels.