Pakistan and Turkey Trade Ties

Pakistan and Turkey Trade Ties

Preferential Commerce Agreement (PTA]) between Pakistan and Turkey was signed on Friday with the intention of increasing commerce between the two nations.

At a ceremony conducted in the prime minister’s office in Islamabad, the PTA was signed in front of the prime minister, Shehbaz Sharif. The agreement was signed by Syed Naveed Qamar, minister of commerce, and Dr. Mehmet Mus, minister of trade, both of Turkey.

The PTA, also known as the Trade in Goods Pact, has extensive clauses on bilateral protections, exclusions for balance of payment, dispute resolution, and periodic revision of the agreement.

The deal was described as “a tremendous occasion and a milestone” in the history of ties between Pakistan and Turkey by Prime Minister Shehbaz.He remembered how the agreement was signed after his May visit to Turkiye thanks to the tireless work of the ministries in both nations.

He said that there were a lot of commercial potential between the two nations and expressed optimism that the agreement would make it easier to further explore trade possibilities in many industries.

The prime minister promised that Pakistan and Turkey will keep advancing their bilateral ties.

Dr. Mehmet Mus, the minister of commerce for Turkey, said the event was a crucial turning point that will help to deepen and broaden commercial connections.

Pakistan and Turkey Trade Ties

Source: https://dailythepatriot.com/pakistan-and-turkey-sign-a-preferential-trade-pact/

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