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Pak-German trade agreement mutually beneficial

The News - International, Pakistan

Pak-German trade agreement mutually beneficial

By our correspondent

14 June 2007

ISLAMABAD: Federal Minister for Commerce, Humayun Akhtar Khan met with Dr Bernd Pfaffenbach, State Secretary of German Federal Ministry of Economy and Technology here today. During the meeting they exchanged views on bilateral trade and issues related to free trade agreement.

Minister for Commerce apprised his German counterpart of the existing EU’s preferential treatment to most countries in the South Asian region. He said that Pakistan wants to have a level laying field in trade regime and that Pakistan wants to have market access on the same conditions offered by the EU to its other competitors, and that free trade agreement will be mutually beneficial for both,
says an official release.

The two sides recalled joint EU-Pakistan ministerial meeting in Pakistan last month and formation of a sub-group on trade. They agreed that this was a step forward for better trade relations.

The German State Secretary said that presently Germany was focused on multilateralism but the government could review the need for bilateral arrangements in view of the competitor, EU has in the international market.

He assured the Minister that Germany will continue to support Pakistan to further improve bilateral cooperation in various domains.

Both sides agreed that EU Commission’s study group will review the situation in South Asia in the light of trade arrangements in the region and evaluate its impact on Pakistan.

Ambassador of Pakistan to Germany Asif Ezdi, senior officials of the embassy and German Ministry of Economy & Technology were also present during the meeting.