Pakistan offers PTA to Belarus

Pakistan has offered a Preferential Trade Agreement (PTA) to Belarus to facilitate trade between the two countries. Belarusian side agreed to the proposal and talks for the early conclusion of the PTA will start soon. A senior official told Business Recorder that Prime Minister Nawaz Sharif is also scheduled to visit Belarus from August 10-12 wherein he would discuss avenues of cooperation in defence, trade, industry including auto sector and agriculture.
Prime Minister along with select members will travel by commercial flight. Commerce Minister will join him in Belarus. According to an official statement PTA between the two countries was offered by Federal Minister for Commerce, Engr Khurram Dastgir Khan in his meeting with Belarusian Minister for Trade and Economy in Minsk, Belarus. The Commerce Minister was assisted by Dr Miftah Ismail, Chairman, Board of Investment, Ms Robina Athar, Additional Secretary Ministry of Commerce and Masud Khan Raja, Ambassador of Pakistan to Belarus.
A meeting of the Joint Economic Commission (JEC) was also held in Minsk which was co-chaired by Minister for Commerce, Engr Khurram Dastgir Khan and Belarusian Minister for Industry, Mr Vitaly M Vovk. The JEC agreed to enhance cooperation between the two countries on trade and investment, industrial Cooperation, agriculture and pharmaceuticals, construction, scientific and technical cooperation, education and culture.
Belarus has a Customs Union -Eurasian Economic Union - with the Russian Federation and Kazakhstan. Pakistan sees this union as one of its major trading partners in future and requests Belarusian side to support and put forward Pakistan's case to Eurasian Economic Commission for concluding a Free Trade Agreement (FTA) with Pakistan. Trade Development Authority of Pakistan will hold a mango festival during the visit of Prime Minister with the theme of "Taste of Pakistani Mango" at Minsk. This event will be organized to showcase premier Pakistani mangoes and build a market of mangoes in Belarus.
Pakistani exports to Belarus were $15.23 million in 2014. This has a great potential of increase as the total imports of Belarus in 2014 stood at $40 billion. Pakistan has potential of increasing its trade in textiles, foodstuffs, chemicals, and mineral products etc. The overall balance of trade is in favor of Belarus due to large import of tractors, petroleum, machinery and auto parts, vegetables and synthetic fiber. Pakistan's major items of export to Belarus are textiles, articles of apparel fruits and vegetables and pharmaceuticals. After the visit of Belarusian President to Islamabad interaction between the two countries has increased. Different teams of Belarus have already visited Pakistan and offered cooperation in different fields.