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Pak-Turkey trade volume falls due to protective duties

19
Jul '19
Pic: Shutterstock
Pic: Shutterstock
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president Daroo Khan recently urged Turkey to remove hurdles in the preferential trade agreement and the free trade agreement (FTA) Pakistan as annual bilateral trade volume between both sides reduced from $1.08 billion to $792 million after Turkey imposed protective duty on Pakistani textiles.

In the past, textile export to Turkey was based on normal tariffs of imports but later Turkey imposed a high protective duty of 18 per cent, leading to a decline in the textile exports to Turkey, Pakistani media reports quoted Khan as saying.

Khan also underlined the need for starting train services with Turkey to reduce trade costs and transit time as trade through sea is not cost-effective. (DS)

Fibre2Fashion News Desk – India


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