FPCCI appreciates signing of SEF between Pakistan and Turkey
Karachi, March 11, 2019 (PPI-OT): Engr. Daroo Khan Achakzai, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) appreciated the efforts of Government of Pakistan and Turkey to enter into Strategic Economic Framework (SEF) for enhancement of bilateral relations in trade, tourism, healthcare, hospitality, industry, education, housing, agriculture, aviation and banking.
He stated that the main purpose of SEF is to enhance bilateral trade by five folds from current US$ 800 million (approx) and for achieving this goal it is expected that both government may sign FTA during the current year. He added that Pakistan and Turkey both are the members of ECO, D-8, CACCI and OIC and the existing trade volume doesn’t reflect the significant bilateral relations.
He urged the government of Pakistan to resolve/negotiate all anti-dumping barriers imposed by Turkey on Pakistani textile and other items before the signing of FTA. These antidumping and safeguard measured reduced Pakistan’s export to Turkey US$ 327 million from US$ 850 million in 2011. He added that textile and rice are the main exportable items of Pakistan facing high tariff rates in Turkey. The imposition of extra duty on Pakistan’s textile in terms of safeguard and antidumping makes our product uncompetitive in Turkey. He suggested that under FTA government of Pakistan should demand the same duty structures on textile products which Turkey has given to Egypt and Jordan under FTA.
Engr. Daroo Khan Achakzai further stated that there are huge potentials available in plastic items, sports goods, carpet, edible fruits, agriculture products and leather goods whereon Turkey should give concession in tariff rates to Pakistan. He underlined that Turkey is currently importing surgical items from Germany that are originally manufactured in Pakistan. He further added that automobile industry is one the growing industry of Pakistan should not be affected under FTA with Turkey. Apart from trade, the FTA should also facilitate the investment opportunities between both nations, he suggested.
For more information, contact:
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
Federation House, Main Clifton, Karachi, Pakistan
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