Economic ties need to be strengthened further: PM Gilani stresses at the HLCC Session
Tuesday, May 22nd, 2012 9:57:23 by Fayyaz Yaseen
Economic ties need to be strengthened further: PM Gilani stresses at the HLCC Session
Islamabad: (Tuesday, May 22, 2012) Addressing the High Level Cooperation Council (HLCC) here today, Prime Minister Yousuf Raza Gilani said that it was yet another milestone achieved in the process of strengthening ties between
two brotherly Muslim countries – Turkey and Pakistan.
However, he was of the view that besides celebrating this sustained cooperation and friendship, it was imperative to take stock of the current status of the ongoing initiatives so as a new path towards more comprehensive partnership
could be developed.
The PM said, “Today’s meeting represents yet another significant milestone in this process. As we move forward, I believe that it is also an occasion to look back and take stock of the current status of the ongoing initiatives
and as well as chart a new path towards a more comprehensive partnership especially in the economic and commercial domains”.
Expressing his concern over the receding volume of mutual trade between Pakistan and Turkey, PM Gilani requested his Turkish counterpart to personally look into the matter and take the necessary steps to halt the phenomena.
He said, “While it is a matter of satisfaction that our trade volume surpassed US $ one billion for the first time in 2011, yet the decline in the trade figures for the first quarter of 2012 is a worrisome development. This underlines
the need for taking additional measures not only to arrest this trend but also to provide necessary stimulus for further intensification of bilateral commercial and trade ties”.
Stressing on the need of putting in place a comprehensive framework that may provide mutual comparative advantage to the business communities in the two countries, Gilani expressed the need for concluding a Preferential Trade Agreement
(PTA) at earliest.
He said, “This makes it even more imperative that facilitative economic framework providing mutual comparative advantage to our business communities should be put in place. It is Pakistan’s strong desire that a comprehensive Preferential
Trade Agreement (PTA) should be concluded at the earliest. It would serve as a vehicle to substantially enhance bilateral trade. The two countries also need to discuss expanding the scope of exportable items. It is equally important to have mutual exemptions
from antidumping, countervailing & safeguard duties within the framework of the PTA”.
Short URL: https://www.newspakistan.pk/?p=23081
Posted by Fayyaz Yaseen
on May 22 2012. Filed under Latest News, Pakistan, World.
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