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THE SEVENTH ROUND OF NEGOTIATIONS ON FREE TRADE AGREEMENT BETWEEN PAKISTAN AND TURKEY

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Long live brotherhood between Pakistan and Turkey brothers :cheers: :smitten:
THE SEVENTH ROUND OF NEGOTIATIONS ON FREE TRADE AGREEMENT BETWEEN PAKISTAN AND TURKEY CONTINUED ON TURKEY FOR NEGOTIATION TO REACH THE FINAL AGREEMENT.

Pakistan and Turkey will also discuss specific sectors including textile sector during the negotiation. The two sides would exchange provisional lists for a final agreement in upcoming round of dialogue.

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85pc target for cotton sowing achieved: Senate panel told

The Senate's Standing Committee on National Food Security and Research was informed on Tuesday that so far 85.27 per cent target for cotton sowing in the country had been achieved. Cotton Commissioner Dr Khalid Abdullah says as of now, cotton sowing on 2.652 million hectares had been completed across the country against the target of 3.11 million hectares for the year 2017-18. Cotton sowing during the current season was 14.3 per cent higher as compared to the last years' sowing area of 2.32 million hectares.

OBOR initiative will help Pakistan to improve transport and energy infrastructure: Chinese Ministry of Foreign Affairs

China says it will continue to work with Pakistan on China-Pakistan Economic Corridor to bring more economic benefits to the people of both the countries as well as the region. This was stated by Spokesperson of Chinese Ministry of Foreign Affairs, Hua Chunying in her regular press briefing in Beijing. She opined that CPEC, a flagship project of One Belt One Road Initiative has helped Pakistan to improve transport and energy infrastructures and also provided job opportunities for the people in Pakistan.

Pak-Romania agreed to explore the potential of cooperation in defense production- Romania expresses desire to increase the trade volume between both countries.

The understanding came at a meeting between Minister for Defense Production Rana Tanveer Hussain and Romanian Ambassador Nicolae Gola in Islamabad. In his remarks, the Federal Minister also mentioned Pakistan’s commitment to combat terrorism and extremism. The Romanian Ambassador says that Pakistan is extremely important country with a rich culture, working democracy and a vibrant economy.



Host: Sajid Farooq

Co-host: Tanvir Hussain

http://www.radio.gov.pk/07-Jun-2017...-for-negotiation-to-reach-the-final-agreement
 
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So, what are the current trade figures between Pakistan and Turkey?

The trade volume between the two countries stood at around $500 million by 2014-15, with export to Turkey recorded at $309.19 million and imports at $191.05 million.

Major trade items between Pakistan and Turkey are fabrics, beverages, spirits and vinegar, plastics and articles thereof, chemicals, and machinery.

It is hoped that Pakistan’s exports to Turkey will likely increase by $500 to $600 million in a short span after the FTA.
The FTA is projected to increase bilateral trade to $5 billion in the between 2016 and 2019 and then to $10 billion by 2022.
from 2016-17 both countries collaborated militarily.. pakistan to sale 52 MFI-395 Super Mushshak military training aircraft to Turkey.. Turkey and Pakistan to participate in the development of its fifth-generation fighter program, TFX..
 
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