Pakistan and Mauritius took a major step towards a forming a free trade area at the end of November when tariff reductions came into effect across a wide range of items under a Preferential Trade Agreeent which had been signed on July 30.
Tariffs have been slashed by between 50% and 100% on 130 types of Mauritian export to Pakistan, including textiles, flowers, fruit, tea, sugar and seafood, while comparable Mauritian tariffs have been cut by between 15% and 30% for 102 types of import.
Further reductions will come into effect on November 30, 2008, and the intention is to convert the PTA into a Free Trade Agreement within two years.
The tariff reductions apply only to items which conform to the Rules of Origin agreed by the two countries under the PTA, which had been ratified by the Pakistan Cabinet on November 7.
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