Asian States FTA To Help Enhance Pak Exports: MEFRA

LAHORE, (UrduPoint / Pakistan Point News - 17th Nov, 2020 ) :Manufacturers and Exporters Ferozpur Road Association (MERA) Chairman Emad Raza said on Tuesday that inclusion of Pakistan in the world's biggest Free Trade Agreement (FTA) among 15 Asian countries will help enhance volume of Pak exports and increase its foreign exchange earnings.

In a meeting with MEFRA office-bearers here, he elaborated that the FTA consisted of China, Pakistan, Indonesia, Malaysia, Philippine, Singapore, Japan, Australia, South Korea, Thailand, New Zealand, Brunei Darrus Salam, Vietnam, Laos, Cambodia and other Asian countries, which are 30 per cent share holder in the global economy.

This trade block under the biggest trade agreement would ensure benefits to 2.2 billion populations of the member countries.

The MEFRA chairman hoped that being part of Asian states' FTA, Pakistan will be able to achieve exports target of $37 billion in five years in accordance with its new Trade Policy. This would not only help flourish the country's industrial sector but also increase foreign reserves of the government, he added.