Prime Minister Raja Pervez Ashraf has emphasized the need for free trade agreements and removal of trade barriers to bolster intra-trade between D-8 countries.
Inaugurating 8th D-8 trade exhibition in Islamabad Monday‚ he said the D-8 developing countries should work together‚ in partnership and in harmony‚ to take trade to five hundred billion dollars by 2018.
He said the D-8 Governments have taken many a practical steps to facilitate promotion of trade during the past fifteen years. Important framework agreements have been put in place‚ such as Preferential Trade Agreement‚ Agreement on Visa facilitation and Cooperation on Customs matters.
Forums have also been created to promote institutional linkages among the business community.
The Prime Minister said the member countries have a huge market of about billion people. Mutual benefits of trading with each other would be enormous‚ and the surest way to improve the economic indicators of our countries.
The Prime Minister said Pakistan is keen to expand business and trade relations with the D-8 member countries. We have ratified all three key agreements‚ including the Preferential Trade agreement . We are convinced that implementation of tariff concessions under this agreement would lead the D-8 community towards greater economic integration.
He pointed out that on the eve of the D-8 Summit‚ we have taken the initiative of organizing the first ever meeting of the heads of Trade Promotion Organizations in Pakistan.
He said this initiative is intended to institutionalize trade relations among D-8 members. Trade Promotion Organizations can play a critical role in catalyzing the private sector‚ and identifying avenues of cooperation in trade promotion. He hoped the meeting will come up with concrete and practical recommendations to expand trade relations.
He said Pakistan believes that access to markets should be based on equitable principles. We have always raised our voice for promoting unhindered market access. He said the democratic government believes in the theme of Trade‚ not Aid.
Raja Pervez Ashraf proposed to promote trade in services saying this will immensely benefit D-8 countries. He said there exists substantial scope for cooperation in developing the skill needs of industrial sector in D-8 countries.
Referring to steps taken by the government in the economic sphere‚ the prime minister said the fundamentals of Pakistan’s economy are robust. Record exports were registered last year. Stock Exchanges are buoyant.
Our government has taken concrete steps in the trade policy to enable the private sector to play a key role in developing export sector. In order to create an enabling environment for trade‚ we are also building a sound macro-economic framework.
Emphasizing the need for regional trade‚ he said Pakistan aims aim to increase its exports in the region from 17% to 25%.
He expressed the confidence that this trade exhibition will result in forging long lasting trade and business linkages among D-8 members.
Commerce Minister Makhdoom Amin Fahim said the exhibition will provide an opportunity to deepen trade ties and open new vistas of joint ventures. He suggested for annual holding of this exhibition to build long term trade relationships between the member countries.
Besides Pakistan‚ Bangladesh‚ Indonesia‚ Iran‚ Malaysia‚ Nigeria and Turkey have put their products on display in the exhibition. Pakistan has displayed halal food‚ engineering and textile products.
Prime Minister Raja Pervez Ashraf accompanied by Foreign Minister Hina Rabbani Khar and Commerce Minister Makhdoom Amin Fahim visited different stalls on the occasion.
