ISLAMABAD, June 26: Commerce Minister Humayun Akhtar Khan has proposed initiation of a dialogue on the freed trade agreement (FTA) with Jordan.

Mr Khan made the proposal while talking to Jordanian Planning and International Cooperation Minister Ms Suhair Al-Ali, who called on him here on Monday. Ms Ali arrived in Islamabad with her team and initiated the two-day 8th session of the Pakistan-Jordan Joint Ministerial Commission.

Ms Ali assured the commerce minister that her government would be happy to start negotiations on the FTA as soon as possible. She also invited Mr Khan to lead a delegation from Pakistan to complete the process of the agreement with Pakistan.

The commerce minister suggested that initial dialogue might be started by technical teams of the two countries and when they reached the final stage of the agreement, he would like to come to Jordan for signing of this bilateral FTA. He said the bilateral FTA would provide an opportunity for vertical integration of Pakistani and Jordanian textile sectors with particular reference to Jordanian textile and apparel export to the US under the Jordan-US FTA and qualified industrial zones (QIZs). The views on setting up of a warehouse at a suitable location in Jordan also came under discussion to cover Iraqi and Palestinian markets. The Jordanian minister briefed Mr Khan on the economic and trade regimes of her country with particular reference to the reforms carried out by her government during the last few years.

The balance of trade between Pakistan and Jordan is in favour of Jordan. During 2004-05, the total trade volume between Jordan and Pakistan remained at $53.837 million in which Pakistan's exports stood at $ 21.013 million whereas imports were registered at $32.806 million, thus registering a trade deficit to the tune of $11.793 million.

Earlier, both the ministers co-chaired the inaugural session of the 8th session of Pakistan-Jordan Joint Ministerial Commission.

The commerce minister said the two countries had signed a number of cooperation agreements in different fields. “Pakistan is witnessing massive upsurge in economic activity. The confidence of domestic as well as foreign investors was gaining new heights on the back of a stable macroeconomic environment. Pakistan has initiated a series of reform programmes to address macroeconomic imbalance,” he added.

The joint commission discussed cooperation in the health sector, civil defence, public works and housing, petroleum and natural resources, science and technology, culture and media, industrial cooperation and joint venture, higher education and technical cooperation, bilateral trade and agriculture and livestock. surge in economic activity. The confidence of domestic as well as foreign investors was gaining new heights on the back of a stable macroeconomic environment. Pakistan has initiated a series of reform programmes to address macroeconomic imbalance,” he added.

The joint commission discussed cooperation in the health sector, civil defence, public works and housing, petroleum and natural resources, science and technology, culture and media, industrial cooperation and joint venture, higher education and technical cooperation, bilateral trade and agriculture and livestock.