Pak to ink FTAs with Iran, Turkey, Yemen soon

“European Union has forwarded the proposal of imposing 13.2 percent anti dumping duty on bed linen commodities to the council while vegetable oil has been struck from the negative transit list in a bid to curb illegal trade”, said Minister for Trade Hamayun Akhtar while addressing a press conference on his arrival in the country after inking of agreements between Pakistan and Yemen in ministerial commission meeting.

To a question the trade minister said that total trade of Pakistani bed linen in Europe was about 0.5 million dollars.

The Minister informed that some three agreements had been signed with Yemen including relating to trade, health and elimination of dual taxes. He added that a high-level Yemenis delegation would visit Pakistan to sign a trade agreement.

Besides, agreements concerning culture, higher education scientific research and tourism would also be signed, he said.

Free trade with Yemen, he maintained would give boost to the country’s trade to the tune of US$ fifty millions. He said that Yemenis entrepreneurs had evinced interest in installing a cement plant in the country.

Priority based trade agreements with Yemen would have positive repercussions on the Muslim countries, he said adding that it would open new avenues for trade.