Explanation

Pakistan and Turkiye on Friday signed the Preferential Trade Agreement (PTA) aimed at boosting trade between the two countries. Prime Minister Shehbaz Sharif witnessed the inking of the agreement at a ceremony held here. Trade Minister of Turkiye Dr Mehmet Mus and Minister for Commerce Naveed Qamar signed the agreement. The PTA includes comprehensive provisions on bilateral safeguards, balance of payment exceptions, dispute settlement and periodic review of the agreement. Addressing the ceremony, PM Shehbaz termed the agreement a milestone in the brotherly and historic relations of Pakistan and Turkiye. He said immense business opportunities existed between the two countries and expressed the confidence that the agreement would explore trade avenues in diverse sectors. He said Pakistan would continue to work with Turkiye to strengthen the bilateral ties.