Pakistan and Thailand have agreed on the Terms of Reference (ToRs) and the framework to begin negotiations on Free Trade Agreement (FTA) between the two countries, Pakistani newspapers have reported. The announcement was made by Pakistan Commerce Minister Khurram Dastgir and Thai Minister for Commerce General Chatchai Sarikulya at the end of a two-day visit of the Thai trade delegation. “Pakistan and Thailand have agreed to launch negotiations for a comprehensive FTA which will initially cover trade in goods and subsequently trade in services,” Dastgir told the media at a press conference. He said the initiative was part of Pakistan’s strategy to deepen trade and investment linkages with Southeast Asian economies that are among the fastest growing in the world. The two countries had also agreed to play their role in facilitating each other in their respective regions. On the product front, Thailand has comparative advantage in electrical and electronic appliances, machinery and components and automobiles. Pakistan, on the other hand, has advantage mainly in the production of cotton yarn and woven textiles, ready-made garments, leather products and other miscellaneous manufactured items like surgical instruments and sports goods.
