Pakistan, Tunisia Likely To Ink PTA Soon: Envoy

Tunisian Ambassador to Pakistan Mr. Adel Al-Alarbi on Tuesday said that Preferential Trade Agreement (PTA) was expected to be inked during the 9th Pakistan Tunisia Ministerial Conference to be held soon in Tunisia

FAISALABAD, (UrduPoint / Pakistan Point News - 24th Oct, 2017 ) :Tunisian Ambassador to Pakistan Mr. Adel Al-Alarbi on Tuesday said that Preferential Trade Agreement (PTA) was expected to be inked during the 9th Pakistan Tunisia Ministerial Conference to be held soon in Tunisia.

Addressing the members of the Faisalabad Chamber of Commerce and Industry (FCCI), he said that long awaited PTA would give a quantum jump to bilateral trade between the two brotherly countries.

He said that after the last successful 8th session of the joint ministerial commission, Tunisia and Pakistani Authorities were engaged in negotiation to finalize the modalities of the agreement.

He said that existing bilateral commercial and economic activities were far below the potential of two countries and we must focus on diversification of basket of tradable goods. "Currently, we are at the last step of PTA which will allow both countries to exchange list of tradable goods with a preferential trade tariff", he added.

He said the Tunisian Parliament had also approved a new investment law to attract foreign investment. "This new code will give foreign investors more flexibility to transfer funds, including profits, out of the country and remove taxes on profits of major projects for at least ten years", he said and added that a fund for investment had also been created which would help financing of infrastructure projects and funding to encourage investors to launch big projects in marginalized areas of the country.

In his address of welcome, Shabbir Hussain Chawla President FCCI said that Pakistan's exports to Tunisia were 23.022 million Dollars whereas the imports were 6.111 Million dollars in 2016. Hence, the balance of trade is in favor of Pakistan.

Mr. Chawla said that China-Pakistan Economic Corridor (CPEC) was about to materialize which would provide new opportunities to the whole world for Foreign Direct Investments (FDI) in Pakistan. Senior Vice President Sheikh Farooq Yusuf offered vote of thanks while documentaries on FCCI and Tunisia were also screened.

Later, former President Abdul Qayyum Sheikh and Executive Member Muhammad Umran Mehmood presented FCCI Shields to Mr. Adel Elarbi Ambassador of Tunisia and Deputy Head of Mission Mr. Chaouki Msolla respectively.