ISLAMABAD - Federal Minister for Commerce Amin Fahim on Friday said that Indian trade delegation headed by its Commerce Minister Anand Sharma would visit Pakistan from February 13 wherein trade related agreements are likely to be signed by two countries.
“The government is taking all stakeholders including army on board in devising trade policy with neighbouring country India”, said Commerce Minister while addressing a press conference along with Secretary Commerce Zafar Mahmood here at Ministry.
He said that Indian Commerce Minister would hold meetings with business community in Islamabad, Lahore and Karachi during his visit from February 13 to 16 or 17.
Secretary Commerce Zafar Mahmood informed that Pakistan and India might sign agreements including customs cooperation, certification of goods and to readdress the exporter grievances during the visit of Indian Commerce to Pakistan.
Amin Fahim said that government had decided principally for granting Most Favoured Nation (MFN) status to India, however it could not be practical until a negative list of trade exist between the two countries according to the World Trade Organisation (WTO) rules, he added. The government would safeguard the local industry before granting MFN status to India, the minister maintained.
The government is working in collaboration of Institute of Business Administration (IBA) to finalise the negative list for trade with India, which would be tabled in cabinet meeting in February for approval. The Commerce Minister said that prices of pharmaceutical are much higher in Pakistan than India, therefore we want that Indian medicines should come in the country so competition environment be produced in the country and people might get benefit from it, he said and added. “We are negotiating with the business community to address their concerns regarding MFN”.
Talking about the protection to the local industry after MFN, the Secretary Commerce said that government could impose additional duty on the import according to the rules of WTO as already done by some other countries. Indian exporters exhibition would be held in Lahore From February 11 to 13.
The Commerce Minister informed that WTO meeting would be held on February 1 wherein Pakistan is likely to get Eurperon Union wavier for 75 items, as promised after the floods in 2010. The government has addressed the concerns of other countries, he added. On a query, he informed that we are not expecting that any quota would be imposed on any of 75 commodities.
On a question regarding Pak-Afghan Transit Trade Agreement, Amin Fahim said that tracking device is not facilitated yet and concerned departments are working on it. Under Pak-Afghan Transit Trade, only civilian commodities are transported, he added.
Source : nation.com.pk