KARACHI, Feb 2: Commerce Minister Humayun Akhtar Khan on Wednesday proposed a preferential trade agreement between Morocco and Pakistan to boost bilateral trade.
He was talking to visiting Moroccan Commerce Minister Mechahoure along with a delegation at the sidelines of the Expo Pakistan 2005.
State Minister for Parliamentary Affairs Division Raza Yar Hiraj, Commerce Secretary Tasneem Noorani, Moroccan ambassador to Pakistan and President of the Centre for Export Morocco Ben Said were also present on the occasion.
Mr Khan suggested constituting an officials group from Pakistan and Morocco as a first step to identify products of export and import between the two countries. He said both the sides would streamline a tariff structure on identified items of exports.
He said this group would be given a six-month period to finalize the report and then commerce ministers of both the countries would meet to shape the preferential trade agreement.
Pakistani delegation, he added, would first visit Morocco for holding meeting after the preparation of report by the designated group. Mr Khan said he was keen to promote bilateral trade with Morocco as desired by President Pervez Musharraf during his visit to Morocco.
The Moroccan commerce minister said his country offered immediate potential to Pakistani textile sector for the export of textile items worth $1.2 billion to the US and other countries under free trade agreements.
Mr Mechahoure said Morocco wanted to develop bilateral ties with Pakistan and also sought joint ventures in agro-based industry, information technology, pharmaceutical, tourism and fertilizers with Pakistan's private sector.
Mr Khan said that trade relations between Pakistan and Morocco were lagging behind despite close ties in the field of politics and culture. The Moroccan minister said his country had acquired expertise in tourism and it could help Pakistan in this field. -APP
