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FTA with Malaysia likely to be inked soon

12
May '07
Government sources have revealed that Pakistan and Malaysia are expected to announce the
Free Trade Agreement (FTA) this month.

Reportedly, the big declaration is scheduled during Prime Minister Shaukat Aziz's Kuala Lumpur May 27-29 tour.

Both sides have made considerable progress during the May 7-9 FTA talks and have finalized almost everything, including tariff reduction policies, rules of origin and draft of the agreement keeping in view the legal particulars.

However, there was certain difference of opinion when it came to tariff reduction of palm oil and 77 textile items.

Malaysian experts have also shown agreement on reducing the 20 percent tariff on 77 textile products from Pakistan, but final decision will be taken after discussion with stakeholders.

Insiders say that both sides were eager to sign the agreement and are most likely to conclude the pact this month.


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