Thursday Nov 09, 2017
KARACHI: Commerce Minister Pervez Malik on Thursday said that the government has started reviewing existing trade agreements and amendments will be brought to benefit local manufacturing.
“The existing Free Trade Agreements and Preferential Trade Agreements are being reviewed. The changes will be made in the interest of the country,” he said at the inauguration ceremony of the four-day 10th International Expo Pakistan with the theme of ‘Emerging Pakistan’.
The minister said that Pakistan is in the process of negotiating a free trade agreement with Turkey and it will be finalized soon.
He also said that exports had exhibited growth during the past few months, owing to initiatives taken by the government. The exports registered nine percent growth during the first three months of the current fiscal year as compared with the corresponding period of the last fiscal year, he added.
Malik said the government was also working on GSP+ for extension. He said that there were difficulties in meeting requirements under 29 conventions relevant to EU GSP plus.
On the occasion, Secretary Commerce Younus Dhaga said that the expo would attract foreign buyers and would help in export promotion.
He said that the minister was trying to promote branding in the country to give unique identity to Pakistani products.
Around 700 exhibitors from 85 countries are participating in the expo due to better law and order situation.
“The large number of exhibitors will help in creating positive image of Pakistan.”
Dhaga also said that the expo had focused on the sectors that have potential to attract investment.
Opposition Leader in the National Assembly Syed Khursheed Shah, Chief Minister of Sindh Syed Murad Ali Shah, and Sindh Governor Muhammad Zubair were also present on the occasion of the launching ceremony.
While talking to media, Khursheed Shah said that Pakistan Peoples Party (PPP) wants continuity in democracy and the party is making its best efforts in the same direction.
He said that the discussions should focus on the economy, security situation, and relations with neighbouring countries instead of irrelevant matters.
CM Sindh on the occasion said that security situation has improved and it is evident from the participation of countries that have increased from 40 to 85.
He said that the expo would help in increasing Pakistan’s exports.
Talking about the latest coalition of MQM and PSP, the chief minister said that both the parties seem to be confused about the leadership. He said that the coalition would not have any adverse impact on PPP.