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31 October 2004
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Sunday
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16 Ramazan 1425
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Saarc Commerce Ministers moot soon
LAHORE, Oct 30: Commerce Ministers of South Asian Nations will meet in Islamabad soon to discuss the ways to increase intra-regional trade.
"The dates for the moot have yet to be finalized," Commerce Minister, Humayun Akhtar Khan told newsmen at an Iftar dinner here on Saturday evening.
He said issues including the South Asian Free Trade Agreement (Safta) will be discussed at the Islmabad moot.
About granting of Most Favoured Nation (MFN) status to India, Humanyun said Indian Commerce Secretary, Deepak Chatterjee during his visit to Pakistan in August, had discussed this matter.
"We have asked India to inform Pakistan about its trade regime; MFN status to India can be granted only after ensuring a level-playing field for the Pakistani side," he said.
On Afghan Transit Trade (ATT), Humayun said that the negative list for Afghan trade had risen to 24 over the last eight years. "Now we have revised it downward to the level of 6; We may take even more steps in this regard," he said.
Humayun Akhtar Khan said that Afghan transit trade had no more a problem for Pakistani economy due to little charm in smuggling after drastic cuts in import duties.
Responding to a question, he said recent upsurge in the international crude oil market had little effect on Pakistan's balance of trade.
"It is the current account balance we should take care of. Increased remittances have helped keep current account balance in a better condition," he said.
He said increase in the non-food and non-fuel imports had been a positive sign. The import of machinery would give a fillip to industrial activity in the country, creating more job opportunities for the youth.
He said Prime Minister Shaukat Aziz, during his upcoming visit to Sri Lanka, would discuss the ways to boost Pak-Lankan trade especially with reference to Free Trade Agreement between the two countries.
He said efforts were also being made to conclude a free trade agreement with Bangladesh.
Humayun said his recent talks with US officials in Washington regarding Bilateral Investment Treaty (BIT) had been very successful and hoped that there would be a headway very soon.-APP
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