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Abbasi promises continuity of policies with review

Daily Times, Pakistan

Abbasi promises continuity of policies with review

By Sajid Chaudhry

1 April 2004

ISLAMABAD : Shahid Khakan Abbasi, Federal Minister of Commerce hinted review of the Trade Policy and said that his ministry would ensure continuity of policies with review for enhancement of country’s exports.

After taking the oath and attending the first briefing at the Ministry of Commerce, the newly appointed Commerce Minister informed a selected group of reporters that the new government would ensure continuity of policies with review for growth in exports.

Efforts would also be made to curtail growing trade deficit and a balance in trade would be the main target in years to come. The mandate of our ministry is to enhance the exports of the country and all possible means and efforts would be put in place for promotion of exports. Free Trade Agreement (FTAs), Preferential Trade Agreements (PTAs) and other market access initiatives would continue to enhance much needed exports of the country.

Improvement in law and order situation in the country for promotion of investment in the country is essential as the foreign investment would be required to achieve the higher economic growth. He said that the new government has set improving law and order situation as priority and all possible means would be used for maintaining law and order in the country.

Improved law and order situation would result in increased foreign as well as local investment and job creation in the country.

Earlier, Syed Asif Shah, Federal Secretary Commerce along with other top officials briefed the minister about the issues relating to the Pakistan’s trade and future challenges.

It was informed in the briefing that Pakistan is pursuing market access strategy through signing Early Harvest Programs, FTAs and PTAs with its main trading partners. FTA and PTA negotiation with important countries are underway and these would be concluded within minimum possible time frame.

The minister would also be given in next few days detailed briefing on establishment of proposed ROZs and FTA negotiations with European Union, GCC, Asian and other individual countries. Pakistan position in World Trade Organisation’s Doha Round and its possible outcome for Pakistan would also be discussed with the newly appointed minister.