ISLAMABAD: May 4, 2023:The Trade in Goods Agreement between Pakistan and Türkiye has come into force on 1st of May 2023, as per mutual agreement.
In August, 2022 the Trade in Goods Agreement was signed by the Turkish Minister for Trade, Mehmet Muş, and Federal Minister for Commerce, Syed Naveed Qamar, which was witnessed by Prime Minister Shehbaz Sharif.
Syed Naveed Qamar said that the Agreement would open up new opportunities to boost bilateral trade across various sectors.
He stressed the need to increase business-to-business interaction for strengthening trade and investment relations between the brotherly countries.
The agreement would bring into effect reciprocal tariff concessions extended to select exports of both the countries, Naveed Qamar added.
He said, the Trade in Goods Agreement signifies a notable milestone in the historic brotherly relations between Pakistan and Türkiye and envisages further integration of the markets and business communities of both countries.
Under the Agreement, Pakistan has gained preferential access in the Turkish market under 261 tariff lines covering traditional as well as non-traditional sectors such as leather, rice, dates, mangoes, cutlery, sports goods, seafood, processed agricultural products, rubber tubes and tyres, plastics, and engineering goods.
Whereas concessions on 130 tariff lines have been extended to Türkiye, including products such as black tea, processed food products and flavorings, industrial raw materials and parts of machinery, and parts of electronic equipment.
ISLAMABAD: May 4, 2023:The Trade in Goods Agreement between Pakistan and Türkiye has come into force on 1st of May 2023, as per mutual agreement.
