Pakistan is likely to receive benefits worth $200 million after signing the Free Trade Agreement (FTA) with Thailand and by enhancing the trade volume between both the nations, government officials believe.

Pakistan and Thailand are expected to present their final list of Free Trade Agreement (FTA) in the coming round of negotiations starting mid-September, 2018 for increasing trade liberalization between both the countries.

A Free Trade Agreement (FTA) between Pakistan and Thailand will be signed in the last week of December 2018 to reach the final agreement, a top official of Ministry of Commerce informed APP on Wednesday.

Both sides have exchanged the final offer lists of items for free trade, including automobile and textile sectors, in order to remove the reservations of both sectors. Pakistan wants concessions on 110 products among textile, agro-products, plastic and Pharmaceuticals, same as Thailand granted to its other FTA partners in these products, he said.

He said that Pakistan had relative advantages over Thailand in some 684 commodities including cotton yarn and woven textiles, readymade garments, leather products, surgical instruments and sports goods.

While talking on second phase of Pak-China FTA, he said China had agreed to provide market access to 58 items, shared by Pakistan besides providing concession on all items included in the offer list.

He added that coming round of negotiation with China under 2nd phase of FTA would held in coming month of October, 2018 in Islamabad.

This acceptance came during the negotiations held under 2nd phase of Pak-China Free Trade Agreement (FTA) in China.

“We wants the concession on 70 export  items and low tariff line on products for further trade liberalization in 2nd phase of FTA between Pakistan and China,” he said.

He said that Pakistan was desirous to have duty relaxation on 70 products before launching the phase-II as same China given to Association of South East Asian Nation (ASEAN) countries.

(APP)

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