ISLAMABAD: Pakistan and Turkey signed Preferential Trade Agreement (PTA) aimed at boosting trade in goods between two countries. Prime Minister Shehbaz Sharif witnessed inking of PTA at a ceremony held at PM Office, as visiting Turkish Trade Minister Dr Mehmet Mus and Minister for Commerce Syed Naveed Qamar signed accord.

Commonly known as Trade in Goods Pact, PTA includes comprehensive provisions on bilateral safeguards, balance of payment exceptions, dispute settlement and periodic review of agreement.

Prime Minister Shehbaz termed agreement “a great moment and a milestone” in brotherly and historic relations between Pakistan and Turkey.

He recalled that following his official visit to Turkey in May, untiring efforts of ministries of both sides resulted in signing of agreement.

He said that immense business opportunities existed between two countries and expressed confidence that accord would further explore trade avenues in diverse sectors. PM also said Pakistan would continue to work with Turkey on strengthening bilateral ties.

Trade Minister Dr Mehmet said it marked a significant milestone which would contribute in a long way to further strengthening and expansion of trade ties.

He said that meeting expectations of all stakeholders was not easy but dedication and step-by-step measures led to conclusion of accord.

Turkish minister also thanked PM Shehbaz for his leadership to seal agreement for betterment of two countries and enhancing linkages between their business communities.

Qamar hoped PTA between Pakistan and Turkey would open up new opportunities to boost bilateral trade across various sectors. He said Pakistan also looked forward to working towards materialising a Free Trade Agreement with Turkey.

Published in The Daily National Courier, August, 13 2022

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