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Pakistan seeks FTA with Belarus
27
May '15
Pakistan has asked Belarus to initiate the process of entering into a free trade agreement to boost trade ties between the two countries, the Pakistani media has reported.

Pakistani industries and production minister Ghulam Murtaza Khan Jatoi made the proposal during a meeting with his Belarusian counterpart Vitaly Vovk in Islamabad on May 26.

Ahead of the meeting, the two countries signed 12 Memorandum of Understandings (MoUs) in the field of tractors, chemicals, leather footwear manufacture, milk products and tyres during the Pakistan-Belarus business and investment forum in Islamabad on the occasion of the first visit of Belarusian president to Pakistan.

Vovk expressed interest in setting up plants in Pakistan for the manufacture of automobile parts and assembly of buses, tractors and grain harvesters.

He was also keen on military-related manufacturing and assembly and sought recommendations from Jatoi. Belarus will also consider technological upgrade and expansion of existing facilities.

Jatoi invited Vovk to visit the Heavy Mechanical Complex in Taxila in order to gain a better understanding of infrastructure that Pakistan could offer and spoke about the viability of joint-venture proposals and said the ministry of industries would assist Belarus in selecting the best possible investors from the private sector.

He suggested that Pakistan’s industrial parks should be used for trade and investment opportunities and assured Vovk that Belarus would be allowed to export manufactured and assembled products from Pakistan to regions across the globe. (SH)

Fibre2fashion News Desk – India

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