Pakistan seeks India’s help at WTO
July 5th, 2011 - 10:11 pm ICT by IANSIslamabad, July 5 (IANS) Pakistan wants India to withdraw its objections at the World Trade Organisation (WTO) to enable it to seek trade concessions from the European Union for its flood-hit people, a daily said.
“Indian approval is vital for future trade talks between the two countries,” said Pakistan’s Commerce Secretary Zafar Mehmood at the opening session of a seminar on “Pakistan-India Trade: Prospects and Challenges”.
“The approval will also boost the confidence of business community and it will result in enhancement of trade between the two countries,” the News International quoted him as saying.
The European Union failed to get approval at the World Trade Organisation from member nations, especially India, for granting trade preferences to Pakistan on 75 items, a Pakistan daily stated in a report June 27.
The EU had announced to give a time-bound duty-free access to Pakistan for 75 items to compensate losses caused by last year’s devastating floods. The package was scheduled to come into effect in January this year.
The EU had recently approached the WTO to seek a waiver for one year on trade preferences to Pakistan on these products amounting to almost 900 million euros.
While talking about the progress in commerce secretary-level talks between India-Pakistan held in April, he said the progress on the proposed road plan has been made from the Pakistan side.
Officials of an Indian company had recently met the Pakistan’s Ministry of Agriculture to present their expertise in cotton and seed research. Similarly, progress was made in energy and computer software industries, he said.
“A draft Memorandum of Understanding (MoU) has been sent for approval, which will help in enhancing trade with India,” he added.
Mehmood also revealed that the Reserve Bank of India (RBI) had sent a letter to State Bank of Pakistan (SBP) for opening up of bank branches across the border for facilitating trade.
On this occasion, Rajiv Kumar, secretary general of the Federation of India Chambers of Commerce and Industry (FICCI), said the atmosphere in India had changed. “Now there are talks about enhancing trade with South Asian countries.”
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- India offers cheap electricity to Pakistan - Apr 20, 2011
- New thinking needed in Pakistan, India ties: Daily - Mar 02, 2012
- EU gives trade preferences to Pakistan - Oct 08, 2010
- India, Pakistan to resume talks on trade issues on April 27 - Apr 06, 2011
- Constructive engagement with India vital for good ties: Gilani - Apr 27, 2011
- `Pakistan, India trade talks to give peace a chance' - Feb 15, 2012
- Private sectors of India, Pak to be facilitated: Zafar Mehmood - Apr 28, 2011
- Pakistan intends to give MFN status to India: Daily - Apr 30, 2011
- India's commerce secretary to visit Pakistan next week - Apr 21, 2011
- EU seeks closer ties with Pakistan - Feb 09, 2012
- EU likely to offer trade-linked aid to Pakistan - Sep 12, 2010
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