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Pakistan is signing a preferential trade agreement (PTA) with Indonesia to promote bilateral trade and investment, and may form a free trade zone in the future. The PTA is part of the Comprehensive Economic Partnership Agreement (CEPA) signed in 2005.
According to the PTA regulations, Indonesia will provide Pakistan with 216 products for preferential tariff treatment by 2016, including silk fabrics, cotton yarns, cotton cloths, ready-to-wear garments, synthetic filament yarns, knitted shirts, cotton scarves, cotton sportswear, and leather garments. Gloves and so on.
According to the agreement, Indonesia exported 287 tax codes (including textiles and leather products) to Pakistan. The fiscal year ending June 2011 showed Pakistan’s exports to Indonesia grew by more than 90% to US$139 million. The main export products are cotton, cotton, unprocessed leather, cotton yarns, synthetic fabrics and garments.
Pakistan has signed free trade agreements with Malaysia, Sri Lanka, and China; it has signed a preferential trade agreement with Iran. He is currently negotiating free trade agreements with Bangladesh, the United Arab Emirates, the European Union and the United States.
Pakistan is striving to make garment products reach the export target of 25 billion U.S. dollars by 2015.
According to the PTA regulations, Indonesia will provide Pakistan with 216 products for preferential tariff treatment by 2016, including silk fabrics, cotton yarns, cotton cloths, ready-to-wear garments, synthetic filament yarns, knitted shirts, cotton scarves, cotton sportswear, and leather garments. Gloves and so on.
According to the agreement, Indonesia exported 287 tax codes (including textiles and leather products) to Pakistan. The fiscal year ending June 2011 showed Pakistan’s exports to Indonesia grew by more than 90% to US$139 million. The main export products are cotton, cotton, unprocessed leather, cotton yarns, synthetic fabrics and garments.
Pakistan has signed free trade agreements with Malaysia, Sri Lanka, and China; it has signed a preferential trade agreement with Iran. He is currently negotiating free trade agreements with Bangladesh, the United Arab Emirates, the European Union and the United States.
Pakistan is striving to make garment products reach the export target of 25 billion U.S. dollars by 2015.
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