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

The risk of escalation

The risk of escalation

The silence of the US and some other Western countries over the raid on the Iranian consulate has only provided impunity to the Zionist state.

Editorial

Saudi FM’s visit
Updated 17 Apr, 2024

Saudi FM’s visit

The government of Shehbaz Sharif will have to manage a delicate balancing act with Pakistan’s traditional Saudi allies and its Iranian neighbours.
Dharna inquiry
17 Apr, 2024

Dharna inquiry

THE Supreme Court-sanctioned inquiry into the infamous Faizabad dharna of 2017 has turned out to be a damp squib. A...
Future energy
17 Apr, 2024

Future energy

PRIME MINISTER Shehbaz Sharif’s recent directive to the energy sector to curtail Pakistan’s staggering $27bn oil...
Tough talks
Updated 16 Apr, 2024

Tough talks

The key to unlocking fresh IMF funds lies in convincing the lender that Pakistan is now ready to undertake real reforms.
Caught unawares
Updated 16 Apr, 2024

Caught unawares

The government must prioritise the upgrading of infrastructure to withstand extreme weather.
Going off track
16 Apr, 2024

Going off track

LIKE many other state-owned enterprises in the country, Pakistan Railways is unable to deliver, while haemorrhaging...