Ministry Of Commerce

Trade officials of Pakistan headed by Secretary Commerce and officials from EFTA member states meets in Geneva

Shahzad — Thu, 26 Apr 2012 12:51:08 +0000

In pursuance of Government of Pakistan’s policy to seek better market access for Pakistani products through tariff preferences and reduction of non tariff barriers in International markets a meeting was convened between the trade officials of Pakistan and European Free Trade Association (EFTA) member states in Geneva on April 18, 2012. The EFTA comprises four non-EU member states namely Switzerland, Norway, Iceland and Liechtenstein. The Pakistan side was headed by Zafar Mahmood, Secretary Commerce while EFTA side was headed by Luzius Wasescha, Permanent Representative of Switzerland to the WTO and EFTA in Geneva. The delegation exchanged information on the economic situation in their countries. Both sides discussed the trade and investment flows between EFTA and Pakistan and their respective approaches to their preferential trade relations with third counties. Both sides have agreed that a recommendation to conclude a Joint Declaration on Cooperation between EFTA states and Pakistan will be submitted to EFTA Ministers at their next meeting on 28th June 2012, in view of a possible signing of such declaration at the following EFTA Ministerial meeting on November 26, 2012 in Geneva.

The third meeting of Pakistan-Australia Joint Trade Committee

Shahzad — Wed, 21 Mar 2012 08:42:48 +0000

The third meeting of Pakistan-Australia Joint Trade Committee was held in Canberra on March 20, 2012. Mr. Zafar Mahmood, Secretary, Ministry of Commerce, led the Pakistan’s delegation. The JTC discussed numerous ways and means for expansion of cooperation in multifaceted fields including grant of greater access to Pakistani products to the Australian market, promotion of Australian joint ventures and enhanced investment in Pakistan, capacity building of Pakistani professionals and expertise in diverse sectors. Australia has recently completed the risk assessment processes for import of Pakistani mangoes and would be considering similar processes for Pakistan’s apples, citrus fruit and fisheries. The JTC considered the conclusion of a number of proposed agreements likesigning of a new MoU on revision of present bilateral Trade Agreement and a bilateral Investment Treaty. It was agreed that time bound targets would be set for making progress on all the trade and economic matters of mutual interest.

Pakistan to explore new trade opportunities with New Zealand

Shahzad — Mon, 19 Mar 2012 20:58:27 +0000

The inaugural session of Pakistan-New Zealand Joint Trade Committee (JTC) was held at Wellington, New Zealand on March 15, 2012 after a gap of 22 years. Pakistan’s delegation was led by Secretary Commerce Mr. Zafar Mahmood. During the meeting both sides reviewed the entire gamut of bilateral trade and ways and means to further enhance the economic cooperation, measures to establish instruction linkages between Pakistan and New Zealand, especially in the field of agriculture value chain and dairy industry. Pakistan also expressed its desire to export mangoes to New Zealand. Secretary Commerce conveyed Pakistan’s expression of interest to initiate negotiations on Free Trade Agreement (FTA), with New Zealand.

Senior Commerce Minister and Japanese Ambassador discuss different opportunities of trade between two countries

Shahzad — Mon, 19 Mar 2012 20:47:45 +0000

A meeting of Senior Commerce Minister Makhdoom Fahim with Mr. Hiro Shi OE, Ambassador of Japan held was on March 12, 2012 to discuss various dimensions of trade relation between Japan and Pakistan. The meeting discussed the potential and possibilities of Pakistan Japan Business Dialogues which is scheduled to be held on March 21^st to 23^rd, 2012 in Tokyo, Japan. Officials from Ministry of Commerce led by Senior Commerce Minister Makhdoom Amin Fahim including the Pakistani business community will participate in the said dialogue. The Minister hoped that the said dialogue will open new horizons in Pak-Japan trade relations. The meeting also discussed the trade opportunities during visit of Japanese business delegation to Pakistan in “Expo Pakistan 2012”, which is scheduled to be held in October, 2012. The Japanese Ambassador appreciated Pakistan’s effort for boosting trade relations with India. He said that current Pak-Indian trade agreements will make this region more stable and prosperous.

UAE Ambassador call on Commerce Minister

Shahzad — Mon, 12 Mar 2012 21:57:44 +0000

During a meeting in Islamabad on March 12, 2012, the Ambassador of UAE in Pakistan, H. E. Essa Abdullah Al-Basha Al-Noaimi, formally invited Senior Minister for Commerce, Makhdoom Amin Fahim to join the 2^nd round of Annual Investment Meeting (AIM), scheduled to be held from May 1 – 3, 2012 in Dubai, UAE. The 2^nd edition of AIM will highlight financing options and emphasize trading possibilities in frontiers and emerging markets with a strong focus on high growth sector. AIM will include an executive leadership conference, country presentation, workshops, site visits, ministerial working roundtable and an exhibition. Senior Commerce Minister Makhdoom Fahim spoke on different ways to enhance the bilateral trade between UAE and Pakistan. The UAE ambassador expressed the view that UAE is a close partner of Pakistan in the region. The number of Pakistani travelers to UAE is very large and there is a great potential for workforce in UAE. The Minister expressed the view that UAE is a close friend of Pakistan over many decades. He also highlighted that there are great opportunities of investment in both countries. Pakistani investors are very keen to invest in UAE and vice versa.

SAARC Commerce Ministers meet on 16-02-2012

Shahzad — Thu, 16 Feb 2012 11:39:45 +0000

The Sixth Meeting of SAFTA Ministerial Council (SMC) was held in Islamabad on February 16, 2012. Commerce & Trade Ministers of SAARC member states participated in the meeting and held talks on matters related to enhancement of intra-SAARC Trade. The Ministers emphasized that for facilitation of trade in the region, the member states should reduce their respective Sensitive Lists under SAFTA. It was noted that Member States are in the process of reducing their Sensitive Lists. The meeting agreed that the Sensitive Lists may be further reduced in the coming years. The Ministers appreciated that the SAARC Agreement on Trade in Services has been signed by all the member states and work is being done on finalization of Schedule of Specific Commitments under the Agreement. They underscored the significance of services trade in the SAARC region. The leaders stressed that the schedule of specific commitments under the services agreement should be finalized and notified. The meeting also discussed obstacle to trade due to the presence of NTM/PTMs and decided that list of Non-Tariff Measures / Para Tariff Measures already submitted by Member States should be re examined. It is agreed that a special meeting of the Committee of Experts (COE) will discuss the NTMs/PTM before forwarding it to the relevant organization to be resolved. The leaders also agreed on further relaxation of SAARC visa regime. They underlined the fact that without free movement of people across the border in the SAFTA region, trade would not flourish in the region. Realizing the importance of infrastructure in the SAARC region, the leaders emphasized the need for intra-regional connectivity through construction of road and rail and air networks.

Pak-India Commerce Ministers meet on 15-02-2012

Shahzad — Wed, 15 Feb 2012 17:12:07 +0000

At the invitation of Commerce Minister of Pakistan, Makhdoom Mohammad Amin Fahim, Mr. Anand Sharma, Indian Minister for Commerce, Industry and Textiles, along with a high powered business delegation, is visiting Pakistan from February 13 to 16, 2012. This is the first ever visit by the Commerce Minister of India for substantive bilateral meetings. Accompanied by more than hundred business delegates, this visit marks a historic moment for both the countries, when political leadership and the business communities have extended unequivocal support for full normalization and preferential trading arrangements between the two countries. The Ministers along with their official delegations met for the bilateral meeting on February 15, 2012. Both sides reviewed the considerable progress achieved in taking forward the bilateral trade relationship.

Ninth Meeting of the Expert Group on SAARC Agreement on Trade in Services held in Islamabad on February 13th, 2012

Shahzad — Tue, 14 Feb 2012 07:23:17 +0000

Ninth Meeting of the Expert Group on SAARC Agreement on Trade in Services held in Islamabad on February 13, 2012. The meeting discussed on schedules of specific commitments by each member country on services to be traded in the SAARC Region. The other agenda of meeting were “review of status of ratification of SAARC agreement on Trade in Services” “negotiations on schedules of specific commitments, including initial request list” “Election of chairperson” “dates and venue of next meeting of expert group on SAARC agreement” and “adoption of current agenda and report”. The meeting on SAFTA Committee of Experts (COE) will be held on February 14 and 15, 2012 to discuss matters related to Sensitive List, Trade Liberalization Programme and Non-Tariff Barriers. The COE monitors, reviews and facilitates implementation of the provisions of SAFTA and undertakes any task assigned to it by the SAFTA Ministerial Council (SMC). In the same way, The SAFTA Ministerial Council meeting will be held on February 16, 2012 in which all the SAARC Commerce Ministers will discuss matters to promote trade of goods as well as Services within the SAARC Region. The SMC is the highest decision-making body of SAFTA and is responsible for the administration and implementation of this Agreement and all decisions and arrangements made within its legal framework.

Minister as a Chief Guest of the launching ceremony of 2nd single country expo Dhaka, Bangladesh

Shahzad — Tue, 14 Feb 2012 07:05:58 +0000

Federal Minister for Commerce Makhdoom Amin Fahim said that Gems & Jewellery Center will be set up with the collaboration of the Rawalpindi Chamber in the region to promote the gems industry. Rawalpindi Chamber is playing pivotal role for the economic uplift of the country and government will assist the Chamber in this regard. He stated this while talking to the mediamen as a chief guest during the launching ceremony of the Second Single Country Expo Dhaka, Bangladesh on February 9, 2012. Amin Fahim said that development of trading activities in the SAARC Region was a great achievement of RCCI and government applauded such steps taken by the said Chamber for strengthening national exchequer. He further said that government is in favour of boosting trade relations with SAARC States.

seminar on “How to Operationalize Existing Transit Trade/Transport Agreements”

Shahzad — Fri, 10 Feb 2012 05:52:02 +0000

Ministry of Commerce organized a seminar on “How to Operationalize Existing Transit Trade/Transport Agreements” on February 9, 2012 in Islamabad. The objective of this seminar is to disseminate information on Regional Trade and Economic Connectivity and to generate new idea for enabling Pakistan to capitalize upon the opportunities emanating from improved connectivity. The seminar consisted of speeches and discussions of experts from Ministry of Commerce, Federal Board of Revenue, Ministry of Foreign Affairs, and National Trade & Transport Facilitation Committee and other officials form public and private sector.While chairing the seminar, the keynote speaker Secretary Commerce Mr. Zafar Mahmood addressed that Pakistan has signed a number of transit trade/transport agreements with the countries of the region, but most of these agreements are facing operational issues. Similarly various international conventions are held up at various stages of ratification and accession. It is in this backdrop ministry of commerce decided to organize this seminar. He said that it is the endeavor of Ministry of Commerce to generate environment which can facilitate increase economic growth through our integration with regional markets and expansion of trade. This will provide increased opportunities and support for traders and logistic industry. The seminar also highlighted about the importance of Pakistan’s opportunities, being a member of Central Asia Regional Economic Cooperation (CAREC), to access the markets of Central Asia and other countries besides developing its energy, trade and transportation systems.