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Pakistan, Egypt to start negotiations for Free Trade Agreement

Associated Press of Pakistan

Pakistan, Egypt to start negotiations for Free Trade Agreement

Friday, 26 January 2007

DAVOS Jan. 26 (APP) — Pakistan and Egypt on Friday decided to start negotiations for Free Trade Agreement (FTA) between the two countries to promote trade and economic activities.

Prime Minister Shaukat Aziz and his Egyptian counterpart Ahmed Nazif agreed here on the sidelines of annual meeting of the World Economic Forum.

Prime Minister Shaukat Aziz said both the countries would get benefit from the experience of each other through FTA and it would also promote the trade, economic and bilateral relations.

He said Egypt could help Pakistan in agriculture as it has achieved success in this sector.

Prime Minister Aziz said Pakistan would help Egypt in the financial and services sector so that both the countries would promote their trade, economic and other relations.

The Prime Minister said there is great potential to promote trade and economic relations, have shared history and identical views on political and other topics. He said due to excellent political relations between the two countries, there was a wide scope to further strengthen these relations.

Shaukat Aziz also highlighted the economic overview and the achievements of Pakistan in the economic and other sectors.

He said the level of trade and investment between the two countries is very low and there is a need to expand it.

The Prime Minister of Egypt highlighting the importance of relations between the two countries said these relations could be further strengthened through mutual cooperation and assistance at all levels for the benefit of traders and business community.

The Prime Minister extended invitation to his Egyptian counterpart to visit Pakistan which was accepted by him.

 source: APP