Pakistan and Turkey’s Free Trade Agreement (FTA) will be signed on August 14, for enhancing the bilateral trade between two countries. The seventh round of negotiations between the two countries on Free Trade Agreement (FTA) was milestone to reach the final agreement.
Secretary Ministry of Commerce Younas Dhaga led Pakistan’s delegation in negotiation on FTA between Pakistan and Turkey. Pakistan and Turkey discussed the specific sectors including textile sector during the negotiation, a senior official of Ministry of Commerce said.
The two sides exchanged provisional lists for a final agreement in round of negotiation.
Pakistan’s trade balance with Turkey remained positive until 2011,however, it started decreasing since 2011, when additional duties on various commodities were imposed by the two countries.
Pakistan’s major imports from Turkey include manmade textiles, towels, steel structure, tanning and plastic chemicals, processed milk and whey.
Whereas, the country’s major exports to Turkey are denim PET, ethanol, cotton yarn, fabric and rice, garments, leather, carpets, surgical instruments, sports good, chemicals.
The official said that after signing the FTA agreement Pakistan will get market space in agriculture and pharmaceutical sector in Turkey.
Denim Deal, an initiative to promote circular practices in denim production, is working toward expanding textile recycling efforts in India…
Natural Fiber Welding (NFW), based in Peoria, Illinois, has introduced Pliant footwear outsoles made entirely from bio-based natural rubber.
Inspired by racquet sports, Pangaia has introduced a new collection that focuses on movement, material innovation, and modern dressing.
Karl Mayer has officially launched its Textile Innovation Center (TIC), marking an important step toward advancing global textile innovation and…
Polartec, a brand under Miliken & Co., has launched Standard Issue, a new pre-dyed option available in black for its…
GFA has introduced the GFA Policy Matrix: Asia, a new resource that outlines sustainability policies across eight major textile-producing countries…