Pakistan Free Trade Agreements List

As Pakistan seeks to expand its trade horizons, it has entered into several free trade agreements with various countries across the globe. These agreements have enabled Pakistan to expand its exports and imports and increase its economic growth. In this article, we will take a closer look at Pakistan`s free trade agreements list.

1. China-Pakistan Free Trade Agreement (CPFTA)

The first and most significant free trade agreement that Pakistan has entered into is with its neighbor, China. The CPFTA was signed in 2006 and implemented in 2007, and it has significantly boosted Pakistan`s exports to China. Pakistan has eliminated tariffs on over 35% of its total exports to China, while China has removed tariffs on over 75% of its exports to Pakistan.

2. Pakistan-Sri Lanka Free Trade Agreement (PSFTA)

Pakistan and Sri Lanka signed the PSFTA in 2002, and it came into effect in 2005. This agreement has enabled Pakistan to increase its exports of textiles, chemicals, and cement to Sri Lanka, while Sri Lanka has expanded its exports to Pakistan in the form of tea, rubber, and coconut.

3. Pakistan-Malaysia Free Trade Agreement (PMFTA)

The PMFTA was signed in 2007 and came into effect in 2008. This agreement has allowed Pakistan to increase its exports of textile products, rice, and fruits to Malaysia, while Malaysia has increased its exports of palm oil, electronics, and machinery to Pakistan.

4. Pakistan-Turkey Free Trade Agreement (PTFTA)

The PTFTA was signed in 2012 and came into effect in 2013. This agreement has enabled Pakistan to increase its exports of textiles, leather products, and rice to Turkey, while Turkey has expanded its exports to Pakistan in the form of machinery, chemicals, and transport equipment.

5. Pakistan-Iran Free Trade Agreement (PIFTA)

The PIFTA was signed in 2006 and came into effect in 2007. This agreement has allowed Pakistan to increase its exports of rice, textiles, and fruits to Iran, while Iran has increased exports of oil, gas, and other goods to Pakistan.

6. Pakistan-Mauritius Free Trade Agreement (PMFTA)

The PMFTA was signed in 2007 and came into effect in 2008. This agreement has enabled Pakistan to increase its exports of textiles, sugar, and cement to Mauritius, while Mauritius has expanded its exports to Pakistan in the form of raw materials for the textile industry, and jewelry.

In conclusion, Pakistan`s free trade agreements have enabled the country to expand its trade horizons and increase its exports and imports. The agreements have been beneficial for both Pakistan and its trading partners, and they have played a significant role in the country`s economic growth. As Pakistan continues to seek new trade opportunities, it is likely that it will continue to enter into more free trade agreements with countries across the globe.