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Pakistan, EU soon having negotiations for more access to markets in Europe: Humyun

ISLAMABAD : Pakistan and the European Union would begin negotiations soon on increased market access on bilateral basis. This was stated by Commerce Minister, Hamyun Akhtar, at a news conference here Thursday on arrival from his visit to Brussels and London.

He said under the Memorandum of Understanding signed in 2001, the European Union increased quota for the Pakistani textile products by 15% and is now willing to grant more access on reciprocal basis.

The Minister said, “Pakistan has demanded of the EU to grant inter-category flexibility for textile products as out of twelve, we are fully utilizing only three categories.” In the case of United States, he said, Pakistan is under utilizing 30 categories.

Humyun was confident that there would be substantial progress in Free Trade Agreement with Sri Lanka while an Indonesian team would be visiting Pakistan soon to negotiate a similar agreement as part of World Trade Organization’s convention to be enforced by January 1, 2005.

He said Pakistan has also urged Britain to help abolish the war risk premium that affects competitiveness of our exports. Similarly, it has been urged to do away with travel advisory that also has negative impact on the overall business environment. He said Britain has agreed to facilitate grant of visa to Pakistani businessmen who visited the United Kingdom during the last five years.

The Minister told a questioner that the country would achieve its export target of 10.4 billion dollars by end of this fiscal year. He said the latest figures show 21% increase in exports this year as compared to the correspondent period last year. He said new trade policy would be announced sometime in July.

“Pakistan is ready for trade talks with India along with discussions on political issues,” the minister said while responding to a question.

Humayun Akhtar said Pakistan has produced a record 3.68 million tonnes sugar this year, generating surplus for export. He said the Ministries of Commerce, Industry and Finance are in the process of consultations on how to dispose of the surplus without harming the interests of the consumer.

He said provincial Governments have been asked to intimate in advance about surplus in any crop so that necessary arrangements are made for export of the surplus in the interest of growers.


	Pakistan, EU soon having negotiations for more access to markets in Europe: Humyun ISLAMABAD : Pakistan and the European Union would begin negotiations soon on increased market access on bilateral basis. This was stated by Commerce Minister, Hamyun Akhtar, at a news conference here Thursday on arrival from his visit to Brussels and London. He said under the Memorandum of Understanding signed in 2001, the European Union increased quota for the Pakistani textile products by 15% and is now willing to grant more access on reciprocal basis. The Minister said, “Pakistan has demanded of the EU to grant inter-category flexibility for textile products as out of twelve, we are fully utilizing only three categories.” In the case of United States, he said, Pakistan is under utilizing 30 categories. Humyun was confident that there would be substantial progress in Free Trade Agreement with Sri Lanka while an Indonesian team would be visiting Pakistan soon to negotiate a similar agreement as part of World Trade Organization’s convention to be enforced by January 1, 2005. He said Pakistan has also urged Britain to help abolish the war risk premium that affects competitiveness of our exports. Similarly, it has been urged to do away with travel advisory that also has negative impact on the overall business environment. He said Britain has agreed to facilitate grant of visa to Pakistani businessmen who visited the United Kingdom during the last five years. The Minister told a questioner that the country would achieve its export target of 10.4 billion dollars by end of this fiscal year. He said the latest figures show 21% increase in exports this year as compared to the correspondent period last year. He said new trade policy would be announced sometime in July. “Pakistan is ready for trade talks with India along with discussions on political issues,” the minister said while responding to a question. Humayun Akhtar said Pakistan has produced a record 3.68 million tonnes sugar this year, generating surplus for export. He said the Ministries of Commerce, Industry and Finance are in the process of consultations on how to dispose of the surplus without harming the interests of the consumer. He said provincial Governments have been asked to intimate in advance about surplus in any crop so that necessary arrangements are made for export of the surplus in the interest of growers.
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