Tehran – Iran and Pakistan have finalized the draft of the Free Trade Agreement (FTA) which would be implemented in June this year, local media reported.
Thee two countries have already exchanged their wish list regarding the FTA in January. Sources say that currently Iran and Pakistan have Preferential Trade Agreement (PTA) which will be merged into the FTA.
The report said that meeting of the Trade Negotiation Committee on Pakistan-Iran Free Trade Area Agreement had finalized draft of the 26 point FTA. Iran and Pakistan for the last two years have been holding discussions to finalize the FTA and the last meeting of the Trade Negotiation Committee was held in Tehran.
Mirhadi Seyyedi, deputy for export market development at Trade Promotion Organization of Iran , and Bilal Khan Pasha, joint secretary of Pakistan’s Ministry of Commerce and Textile led their countries in the meeting.
The report claim the draft of the FTA between Iran and Pakistan is in final stages. It said that the next meeting of the Trade Negotiation Committee would be held in Islamabad and the agreement would be implemented by June 2018.