President Asif Ali Zardari on Tuesday called for enhancing two-way trade between Pakistan and Myanmar and establishing a preferential tariff arrangement leading to culmination of a comprehensive free trade agreement and establishment of a joint ministerial commission mandated to promote economic and trade cooperation between the two countries.
He said this while meeting Myanmar President U Thein Sein. The president called for cooperation in oil and gas sectors and offered to send the petroleum and natural resources minister to Myanmar for exploring prospects of meaningful cooperation. Presidential Spokesman Farhatullah Babar said that the president also called for consultations between the respective central banks to study prospects of establishing a currency swap arrangement for closer economic and trade cooperation.
Zardari called for greater interaction between the chambers of commerce and offered to send a trade delegation to Myanmar. Closer interaction between the respective trade bodies would lead to establishment of a joint business council, the president said. Pakistan and Myanmar have modest trade relations, as two-way trade between the two countries stood at $24 million in 2009-10.
