ISLAMABAD, Nov 22: The United States has asked Pakistan to expand trade relations with India and other regional countries, said outgoing commerce minister Abdul Razzak Dawood.
Talking to newsmen here on Friday, the minister refused that the USA had asked for signing free trade agreement (FTA) with India or granting her the most-favoured nation status (MFN).
He said that the US, during the recent visit of treasury secretary Paul O’Neil and earlier of under-secretary of state Alan Larson, had called for increasing trade within this region including India.
The minister said that regional trade within the South Asian region was minimal compared with the huge business volume within the Asean or European region.
He believed that regional trade was a must to meet the challenges of the WTO. That was why, he said, Pakistan had been working for signing free trade agreements with Sri Lanka and Bangladesh.
Razzak said that the FTA with Sri Lanka was ready but he preferred its signing by the new commerce minister because the new minister would have to face the difficulties that were to arise out of the agreement.
The minister said that he had also raised with Paul O’Neil the question of market access to Pakistani products. The two sides would meet again on Dec 10 in Washington, he said.
To a question, he said that he had also raised the issue of free trade agreement with the US, but was told that the it took US more than six years to sign the FTA with Chile and Singapore.
He said that Friday was his last day as minister and he would leave for Karachi after the oath-taking of the new prime minister for onward journey to perform Umra with his family.
The minister said that he did not expect that he would be offered any portfolio by the new government.
Razzak said he was leaving a comprehensive paper for his succeeding minister about the policies which he thought were in the best interest of the local industry and areas where he could not succeed but wished the new minister could do well.
