ISLAMABAD, June 27: Prime Minister Shuakat Aziz has stressed the need for an early signing of Free Trade Agreement (FTA) between Pakistan and Jordan to increase the volume of bilateral trade.
He was talking to Jordan’s Minister for Planning and International Cooperation Ms Suhaira Al-Ali who called on him at the PM House on Tuesday. Ms Ali was heading a team which was here for holding the 8th two-day session of Pak-Jordan Joint Ministerial Commission (JMC) concluded here.
Mr Aziz said the FTA provided a good signal and opened doors of cooperation between the private sectors of both the countries. He said the two countries were bound in ties of shared faith, culture and values and had historically enjoyed close and brotherly relations.
He said the chambers of commerce and industry of both the countries needed to familiarise themselves with the economic profiles of each other’s country in order to identify areas where trade and investment could be enhanced.
He emphasised that the JMC should meet regularly in order to become an effective instrument to expand trade and explore opportunities of bilateral investment. He said Pakistan was open for business and made no distinction between local and foreign investors.
Minister of State for Economic Affairs Hina Rabbani Khar, Ambassador of Jordan in Pakistan Musa Al-Advan and other high-level officials attended the meeting.
Later, talking to newsmen, Ms Ali described her meeting with Mr Aziz as excellent and productive. She said many avenues of cooperation including agriculture, education, free trade zones and vocational training came under discussion during the meeting.
JMC MEETING: Meanwhile at the conclusion of the JMC session both the sides agreed to start negotiations for signing of FTA as the present bilateral trade did not reflect the real potential of the two countries.
They agreed to encourage the private sectors to initiate joint ventures in pharmaceutical, mineral, textile and particularly ready-made garments and high-tech industries. The Jordanian side also welcomed a Pakistani offer to develop the textile sector of Jordan.
The Pakistani side offered assistance to Jordan for the preparation of computerised identity cards, multi-biometric passports, vehicle registration and tracking system. The Jordanian side showed interest to ascertain the feasibility of these projects in their own context.
Both the sides acknowledged that the establishment of Pak-Jordan Business Council would prove effective in promotion of bilateral trade and investment by identifying areas of cooperation.
They agreed to exchange services and expertise in designing roads and low income houses and expertise in the areas of petroleum and natural resources, railways and social development.
They expressed satisfaction on signing of protocol for cooperation in the field of agriculture.
They also discussed in detail the existing level of cooperation in the field of higher education and vocational training and agreed to evolve a mechanism to minimise the problems being faced by people of both the countries.