Pakistan to pursue preferential trade deals with Saudi Arabia, UAE, Oman: Razak Dawood

Published September 26, 2021
In this file photo, Commerce Adviser Abdul Razak Dawood addresses the Pakistan-Tajikistan Business Forum in Dushanbe on Sep 16, 2021. Picture credit: Abdul Razak Dawood/Twitter
In this file photo, Commerce Adviser Abdul Razak Dawood addresses the Pakistan-Tajikistan Business Forum in Dushanbe on Sep 16, 2021. Picture credit: Abdul Razak Dawood/Twitter

Pakistan will pursue individual trade deals with Saudi Arabia, the United Arab Emirates and Oman, Adviser to the Prime Minister on Commerce Abdul Razak Dawood said on Sunday, as talks with the Gulf Cooperation Council (GCC) remain stalled.

The GCC, which includes those three countries plus Qatar, Kuwait and Bahrain, started free trade talks with Pakistan in 2004. It has not implemented a free trade deal since 2015.

Dawood told Reuters that Pakistan hoped bilateral negotiations for preferential trade deals with the three Gulf Arab states would start in the next 6-12 months.

“We feel it is far better to do individual (deals) at the moment rather than with the GCC as a bloc,” he said in Dubai.

A preferential trade deal typically gives certain products preferential access such as by reducing or removing tariffs.

Dawood said the negotiations would cover a limited number of goods and would not be as comprehensive as a free trade agreement, though over time the deals if secured, could be expanded.

He did not say which goods Pakistan would seek to include.

The UAE announced this month it would seek broad economic agreements covering trade and investments with eight countries, including India, Britain and Turkey, but not Pakistan.

Also read: FM Qureshi, UAE counterpart discuss bilateral ties, upcoming Dubai Expo 2020

Saudi, Emirati and Omani officials could not be immediately reached for comment on the PM's adviser's remarks.

Dawood is in Dubai to assess preparations for Pakistan's participation at the six month Expo world fair being held there from next month.

He said Pakistan would highlight safety and diversity at Expo, which he hoped would lead to an increase in tourists and investments in the South Asian nation.

This month, New Zealand's cricket team pulled out of an upcoming tour of Pakistan over security concerns.

“We were not expecting something like this to happen and that is the type of perception that we have to overcome,” Dawood said.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Region on edge
Updated 27 Oct, 2024

Region on edge

If the global community is serious about de-escalation in the region, it must call for an immediate, unconditional ceasefire in Gaza.
Series win, at last
27 Oct, 2024

Series win, at last

NOMAN Ali and Sajid Khan walked off after England’s second innings, jointly holding the ball having all but ...
Crimes of collusion
27 Oct, 2024

Crimes of collusion

MULTIPLE socioeconomic factors propel criminal practices. Preying on the poor for astronomical profit tops the list....
Selling PIA
Updated 26 Oct, 2024

Selling PIA

Aurangzeb’s assertion that govt hopes to finalise the privatisation next month indicates issues with shortlisted bidders will be resolved soon.
Anti-Muslim bias
26 Oct, 2024

Anti-Muslim bias

RECENT findings of the EU’s human rights agency point to a troubling rise in bias against the bloc’s 26m ...
On the pulse
26 Oct, 2024

On the pulse

HEART disease is fast becoming an epidemic in Pakistan, increasingly affecting younger populations. Karachi, for...