INDONESIA - OIC TRADE - PTA - Kinnow export to increase with Indonesia

www.brecorder.com - ISLAMABAD: The Preferential Trade Agreement (PTA) signed between Pakistan and Indonesia early this month, is expected to be ratified by the end of March, officials said on Tuesday.

The PTA between the two countries will result into export of kinnows with a huge boost.

The agreement has reduced the tariff rate for kinnows from 25 percent to zero tariff. (source)

PAKISTAN - ECONOMY - Cabinet to approve PTA with Indonesia

brecorder.com - The Federal Cabinet is all set to approve the 'Preferential Trade Agreement' (PTA) with Indonesia, with the main beneficiary purportedly being edible oil importers.

The meeting will be presided over by Prime Minister Yousaf Raza Gilani, who is scheduled to leave for Australia on Wednesday to attend the Commonwealth Summit meeting.

Official documents obtained from the Cabinet Division suggest that Pakistan and Indonesia signed the Comprehensive Economic Partnership Agreement (CEPA) in November 2005 on the occasion of the visit of President of Indonesia to Pakistan.  (source)

ECONOMY - Turkey urges OIC members to ratify origin rules for PTA

Turkish president has called on member countries of the Organization of the Islamic Conference (OIC) to ratify the rules of origin agreement that would effectively lay the legal foundations of a preferential trade deal among OIC members.

"One more country needs to ratify the rules of origin agreement to complete the legal basis of the preferential trade agreement. I am calling on member countries to complete the ratification procedures," Abdullah Gul said in a message he sent to the 27th meeting of the Standing Committee for Economic & Commercial Cooperation (COMCEC) of in Ankara.

The "Preferential Trade System" envisages a transition to a three-step tax reduction system among Muslim countries. To be launched, the plan requires the approval of at least 10 member states.

"The functioning of the preferential trade deal would further boost trade among the OIC countries." (source)

FINANCE - TRADE - Indonesia ready to ratify OIC`s preferential trade arrangement

Jakarta (ANTARA News) - Indonesia is ready to ratify the Preferential Trade Arrangement (PTA) of the Organization of Islamic Countries (OIC), a trade ministry official said.