ISLAMABAD, March 18: Pakistan is considering to enter into transit trade agreements with the Central Asian Republics (CARs) for increasing exports to these land-locked countries.This was stated by Commerce Minister Humayun Akhtar Khan at the end of the envoys conference in Almaty, Kazakhstan. He said such arrangements with these countries would provide an enhanced market access for Pakistani goods. According to an official announcement released by the commerce ministry, the possibilities of entering into bilateral and regional trading arrangements were comprehensively explored in the conference. The minister stated that holding such conferences was a new concept and similar conferences would be arranged in Africa, eastern Europe, Latin America, Middle East and Asia Pacific.The main thrust of these conferences is to develop a comprehensive strategy for increasing and diversifying Pakistan’s exports to this region, he said.

Mr Khan said the number of applied rate was as huge as 42 per cent and four complex taxation systems namely ad valorem, specific, alternate and composite were being applied, which made business activity very complicated.

He said it was now a matter of great satisfaction that the first generation of macro-economic reforms had been completed under which the tariff structure was reduced and simplified in extensive consultation with private-sector stakeholders.