Pakistan will be reviewing its existing preferential trade agreements (PTAs) with several countries following enormous losses as a result of increasing bilateral trade deficits. This include trade pacts with Malaysia, Sri Lanka, China, Mauritius, Indonesia, Iran and other countries.
Based on data released by Pakistan’s Ministry of Commerce, the trade imbalance has worsen since the PTAs as the growth of Pakistan’s exports was not in tandem to the growth in imports from these countries.
When it comes to bilateral trade with Malaysia, the trade deficit has worsen from $1.592 billion in 2008-09 (the PTA with Malaysia was implemented in 2008) to $2 billion in 2014-15.
Source: Daily Times