KARACHI, July 22: The federal commerce minister Humayun Akhtar does not see post-2005 global situation as an unsurmountable challenge for Pakistan as according to him “we have relatively more liberal economy than many other countries of the region.”

Talking informally during his visit to Dawn office on Tuesday the Commerce Minister said that according to certain indications the developed countries would have to bring down their import tariff to zero level and developing countries between 15 to 20 per cent within certain stipulated period may be up to 8 to 10 years.

“Tariff adjustments after WTO regime comes into operation will not be much of a challenge for us,” the minister remarked while obliquely referring to the adjustments made in import tariff under IMF dictates.

He was confident that Pakistan enjoys edge over India in competing export of certain textile items in the world market but would face tough challenge in garments and value-added products against China.

“Setting up garment cities is a move in that direction to improve upon the quality and marketing,” he explained.

He said that Trade Policy has been framed for the first time in consultation with provinces. “Provinces will have to do a lot in setting up of industrial clusters, special export zones and agricultural export zones.”

The Minister was confident that Pakistan’s regional trade with ECO countries should pick up after the recent meeting where he was highly encouraged from the indications made by the ministers of the member governments.