Pakistan, Turkiye Implement Trade in Goods Agreement

The Trade in Goods Agreement between Pakistan and Turkiye has come into force on 1st of May 2023, as per mutual agreement. The entry into force of the agreement, which was signed in August 2022 in Islamabad, brings into effect reciprocal tariff concessions extended to select exports of both countries. Under the agreement, Pakistan has gained preferential access in the Turkish market under 261 tariff lines covering traditional as well as non-traditional sectors such as leather, rice, dates, mangoes, cutlery, sports goods, seafood, processed agricultural products, rubber tubes and tyres, plastics, and engineering goods. Whereas concessions on 130 tariff lines have been extended to Turkiye, including products such as black tea, processed food products and flavorings, industrial raw materials and parts of machinery, and parts of electronic equipment. The Trade in Goods Agreement signifies a notable milestone in the historic brotherly relations between Pakistan and Turkiye and envisages further integration of the markets and business communities of both countries.