Regional trade: Minister meets envoys to give boost to economic ties

Highlights issues related to non-tariff barriers and transit trade

ISLAMABAD: In a bid to explore trade options with regional countries, Federal Commerce Minister Engineer Khurram Dastgir Khan met ambassadors and high commissioners of neighbouring countries and spoke about the importance Pakistan gave to its relationship with the geographical partners in the hope of boosting economic ties.

The delegates were from India, Afghanistan, Uzbekistan and Saudi Arabia, who separately called on the minister on Monday.

Talking to the newly appointed Indian High Commissioner Gautam Bambawale, Khan suggested that Pakistan and India should focus on removal of non-tariff barriers in order to facilitate bilateral trade.

He stressed that the two countries should focus on visa facilitation for businesspersons, enhancing banking contacts and removing the non-tariff hurdles, which impeded the flow of trade under the existing regime.

“We have had productive meetings with the envoys and discussed a range of issues on regional trade,” remarked the minister while talking to The Express Tribune.

He saw tremendous potential for regional trade, which should be harnessed by the relevant countries.

The Indian high commissioner said India had started issuing three-year multiple-entry visas to Pakistani businessmen, which would pave the way for more frequent and enhanced business-to-business interaction.

The minister pointed out that an exhibition organised by the Trade Development Authority of Pakistan in New Delhi last year was a resounding success and created awareness among Indian buyers of the fashion brands in Pakistan.

Separately, Dastgir held a meeting with Afghanistan Ambassador Omer Zakhilwal and discussed issues pertaining to bilateral and transit trade.

The two sides agreed to hold a high-level meeting involving all stakeholders to discuss the challenges faced by traders of both countries at the operational level.

“We hope for progress on the transit trade-related matters with Afghanistan as we are moving in the right direction,” he added.

“Pakistan attaches high priority to the enhancement of regional trade and undertook several measures last year, which resulted in an increase in Afghan transit cargo over the past few months.”

He said the Gwadar-Chaman road being constructed under the China-Pakistan Economic Corridor programme would provide a short link to Afghanistan and Central Asian countries for access to ports and enhancing trade with the outside world.

Talking to Saudi Arabian Ambassador Abdullah Marzouk Al-Zahrani, the commerce minister said Pakistan would launch a grand marketing campaign in Saudi Arabia targeting the huge South Asian diaspora and the native Saudi population to create awareness of Pakistani products.

Pakistan is planning to host a Saudi investor conference in Islamabad in order to apprise the investors of the emerging business opportunities in Pakistan.

Published in The Express Tribune, March 8^th, 2016.

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