The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday opposed the signing of a Free Trade Agreement (FTA) with the United Arab Emirates (UAE) which, its office-bearers said, would ruin the local industry by inundating the domestic market with foreign, cheap products.
“An FTA with the UAE is clearly against the interests of Pakistan. Therefore, we are going to oppose it as representatives of the chambers of commerce and industry of the country,” FPCCI President Haji Fazal Kadir Khan Sherani said after listening to the views of the FPCCI Pakistan-UAE Business Council.
Ideally, an FTA allows unlimited purchases and sales of goods and services between countries without the imposition of trade barriers.
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