Preferential trade: ECO countries to meet in Kabul next month

Key members plan to finalise accord this year.

ISLAMABAD:

Members of the Economic Cooperation Organisation (ECO) have called a ministerial meeting in Kabul next month to reach consensus on a preferential trade agreement in a bid to give a boost to trade relations among countries of the bloc, an official said.

This was decided in a meeting between founding members of ECO – Pakistan, Turkey and Iran - in Tehran recently, where they discussed promotion of trade and reservations of member countries, a commerce ministry official said.

The official said representatives of the three countries were of the view that an ECO trade agreement should be finalised this year. Before striking any agreement, the three countries would discuss their reservations about various trade items.

Under the proposed agreement, goods can be traded between member countries of the bloc at reduced duties. They are also expected to discuss procedures, rules and regulations for the agreement.

Pakistan has prepared a positive list of 2,664 items which can be traded with ECO countries which also include Afghanistan, Turkmenistan and other Central Asian states.

In the previous meeting held in Turkey, Pakistan had sought an offer list of trade items from Iran which was still awaited, the official said.



Published in The Express Tribune, April 27^th, 2011.