"Our agenda is to initiate trade relations with every region of the world," Minister for Commerce Khurram Dastgir. PHOTO: APP
LAHORE:
Minister for Commerce Khurram Dastgir has said that trade liberalisation is the primary factor that can enable the country’s economic growth rate to touch 10%.
“No country can expect a double digit growth in a closed economy,” said Dastgir. “We are trying to normalise trade relations with our neighbouring countries.”
While talking to members of the Lahore Economic Journalists Association (LEJA) at the Trade Development Authority of Pakistan (TDAP) office, Dastgir said that Pakistan currently trades with India at 85% of the total capacity.
“Our agenda is to initiate trade relations with every region of the world; we should make our decisions on determination — not on doubts. However, for India the latter is the case”
Commenting on the central role of the agricultural sector, Dastgir termed it the “backbone of our country” that requires protection in the form of simplification of SROs, which will facilitate traders.
Dastgir said that the country has some unresolved conflicts with the Indian government regarding trade. Among them, visa requirements to the business community is a priority. Additionally, developing cross banking facilities is an issue that needs to be addressed. “For the last seven years, India is trying to achieve the Free Trade Agreement (FTA) with the European Union (EU), but EU shares similar concerns with India.”
According to Dastgir, the country’s’ biggest achievement was to get the GSP Plus status.
Published in The Express Tribune, April 27th, 2014.
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