Businessmen from Pakistan push free trade with Phl
MANILA, Philippines - Businessmen from Pakistan are pushing for a free trade agreement (FTA) with the Philippines to increase trade between the two countries.
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president Zakaria Usman told reporters there is room to grow the bilateral trade of Pakistan and the Philippines valued at $94.7 million in 2013.
“That is not a satisfactory level but there is potential we can increase (it) very soon if we work together,” he said.
He said that entering into an FTA will help boost the two countries’ trade relations.
“The best way to increase business is to sign FTA between two countries. The FTA will create enhancement of imports and exports,” he said.
He said there is a need to study what products would be covered by the FTA, if and when the two countries decide to enter into one.
Pakistan’s main exports to the Philippines are beverages, cereals and pharmaceutical products while products imported by Pakistan from the Philippines include organic chemicals, machinery, as well as electrical and electronic equipment.
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