While assuring that it would consider providing greater market access to Pakistani products; Australia has shown interest to revise the current bilateral trade agreement and a bilateral investment treaty to promote bilateral trade between the two countries. This interest was shown at the third meeting of Pakistan-Australia Joint Trade Committee (JTC) which was held in Canberra on March 20. Pakistani delegation was led by Secretary Commerce Zafar Mahmood, which also included Chief Executive of Trade Development Authority of Pakistan Tariq Puri and High Commissioner of Pakistan Abdul Malik Abdullah.
Australian side was led by Deputy Secretary Department of Foreign Affairs and Trade (DFAT) Paul Grigson and included senior officials of DFAT, Treasury, Biosecurity Australia, AusAID and AusTrade. After taking cognizance of enormous economic challenges faced by Pakistan due to the devastating floods of last two consecutive years and because of its frontline role in war against terrorism, JTC discussed ways for expansion of cooperation in multifaceted fields including grant of greater access to Pakistani products to Australian market, promotion of Australian joint ventures and enhanced investment, capacity building of Pakistani professionals and expertise in diverse sectors with particular emphasis in agricultural sector like post-harvest value addition, dairy products, livestock, water management, and training of trainers.
The meeting was informed that Australia has recently completed the risk assessment processes for import of Pakistani mangoes and would be considering similar processes for its apples, citrus fruit and fisheries. Australia has significantly increased its development assistance to Pakistan in the recent years. The meeting acknowledged the success of Pakistan-Australia Agriculture Sector Linkages Programme. The cooperation in the education sector, especially grant of higher number of scholarships also came under consideration. The JTC considered the conclusion of a number of proposed agreements like signing of a new MoU on revision of present bilateral trade agreement and a bilateral investment treaty.
Pakistan-Australia JTC was established under the bilateral trade agreement of 1990, to oversee and foster ever stronger commercial and economic links between the two countries. The previous meetings were held alternatively in Australia and Pakistan in 2006 and 2010. A range of proposals to boost the two-way trade and investment were also discussed at the meeting. The meeting also reviewed progress on the decisions taken at the previous meetings. It was agreed that time bound targets would be set for making progress on all the trade and economic matters of mutual interest.
