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Tag Archives: Trade

China offers zero tariff regimes on 95pc of trade with less developed nations

KUNMING: China’s Vice Prime Minister Wang Yang has expressed Chinese willingness to help the South Asian countries in the fields of energy, telecommunications and road infrastructure on build, operate & transfer basis and through public-private partnership by pursuing zero tariff regime on 95 per cent of trade for less-developed countries in South Asia. Wang Yang said this while addressing the ... Read More »

Fresh initiatives to be taken to boost economy: Khurram Dastgir

ISLAMABAD: Pakistan will undertake fresh trade initiatives with its regional and international trading partners to promote trade and boost economic growth in the country. Federal Commerce Minister Khurram Dastgir Khan said this in a meeting with officers of the commerce ministry academics and experts. The meeting was held to discuss the strategies for doubling Pakistani exports in the next few ... Read More »

Pak can cope with Indian market’s size thru export potential: Dastgir

HYDERABAD: Regional markets including India offer huge opportunities and can help Pakistan boost its exports, said Commerce Minister Khurram Dastgir Khan on Thursday. Addressing a gathering of growers arranged by Sindh Abadgar Board (SAB), the minister said there was no need to be fearful of Indian market’s size as Pakistan has huge export potential. “We shouldn’t be apprehensive of India’s ... Read More »

Dastgir hints at 24/7 functioning of Sust check post

ISLAMABAD: Commerce Minister Khurram Dastgir has expressed government’s aspiration for 24/7 trade at Pak-China border. While talking to a delegation of Gilgit Baltistan Chambers of Commerce and Industry, which called on the Minister to express their concerns over border management at the Pak-China border, he recognised the fact that current closure of border routes on weekends is not favourable for ... Read More »

GB Business community in agony due to widening of lake

GILGIT: Gilgit-Urumqi Business Forum President Nazir Ahmad has urged the government to introduce tax concessions for the business community of Gilgit-Baltistan affected by the widening of Ataabad lake on Karakoram Highway. Business community, whose sole source of income is Khunjerab-Sust trade route, had suffered heavily due to widening of the lake bringing a halt in Pak-China trade activities. Meanwhile its ... Read More »

Customs Intelligence confiscates 912 smuggled LED TVs, tyres

LAHORE: Directorate General of Intelligence and Investigation-Customs has seized smuggled items worth millions of rupees while raiding shops and warehouses across the country on tip-offs. Sources said DI&I Lahore launched a raid in areas adjacent to vegetable market and confiscated 912 LED televisions and 180 tyres. The items were confirmed to be smuggled and concealed in a warehouse. Anti-smuggling operations ... Read More »

Dastgir’s quest for US grant of GSP shows positive signs

WASHINGTON DC: In a briefing to US media Pakistan’s Commerce Minister Khurram Dastgir has said that Pakistan qualified for EU’s grant of GSP Plus “on merit and we want the same arrangement with the US, also on merit.” The commerce minister said, “The US government is keen to help us and we have sympathisers on the Capitol Hill as well.” ... Read More »

Dastgir arrives in US to hold trade talks

ISLAMABAD: Commerce Minister Khurram Dastgir has arrived at Washington DC to attend a meeting on Trade and Investment Framework Agreement from 13-15 May 2014. Prime Minister Nawaz Sharif and US President Barack Obama during their meeting held in October, 2013, resolved to resume discussions on trade and investment through the agreement. Dastgir will meet US Trade Representative Michael Forman in ... Read More »

India asks Pakistan to raise LoC trade protocols items from 21 to 40

LAHORE: Indian Government has requested the Pakistani Government to increase the number of items allowed under the Line of Control (LoC) trade protocols from 21 to at least 40. Cross border trade between India and Pakistan continues to flourish peacefully. Recently, more than 25 truckloads of bananas from India and ten truckloads of dry fruits from Pakistan crossed over, facilitating ... Read More »

Govt to get strict on illegitimate edibles

ISLAMABAD: Federal Commerce Khurram Dastgir has told the National Assembly that the government is drafting a law to restrict import of Haram edible ingredients into Pakistan which shall be promulgated within the current year. While addressing the Parliament the minister said the Ministry of Science and Technology, Ministry of National Food and Security and Ministry of Commerce are jointly crafting ... Read More »

Pak-India trade needs to extend beyond Punjab

LAHORE: Trade between Pakistan and India needs to be extended to other provinces of India instead of Punjab only. Without proper development of infrastructure at Wagha and other borders cent percent trade opening is fruitless. This was the bottom-line of the deliberations at the Pak–India Business Promotion meeting held at the Lahore Chamber of Commerce and Industry under the Chairmanship ... Read More »

MoC sets up cell for monitoring trade with India

LAHORE: Federal Commerce Minister Khurram Dastgir has said that the Ministry of Commerce (MoC) has established an ‘India Cell’ to scrutinize the agriculture trade with India in collaboration with Wagha Agri Trade Committee. While chairing a high level meeting of the commerce ministry, the minister said that the government will monitor the trade of agricultural items with India with the ... Read More »

Indian officials arrive next week to discuss cross-LoC trade

NEW DELHI: Pakistan and Indian officials will meet next week in Islamabad for continuing uninterrupted cross-Line of Control (LoC) trade and solving problems of traders in this regard. According to Indian media, an Indian delegation would be travelling to Islamabad next week to sort out obstacles and try to gain consensus on several issues and form a mechanism to ensure ... Read More »

Sharif proposes FTA for enhancing trade with Korea

ISLAMABAD: Prime Minister Nawaz Sharif has proposed a comprehensive Free Trade Agreement (FTA) with the Republic of Korea for enhanced cooperation in trade and investment. He has also called for preparing a Country Partnership Strategy with the Republic of Korea in the fields of trade and investment for next three years. Prime Minister Nawaz Sharif said this in a meeting ... Read More »

Pakistan keen to enhance trade within OIC countries: Dastgir

LAHORE: Pakistan is keen to enhance economic trade co-operation within the OIC member countries. The Muslim Ummah does need to achieve high level of development and prosperity as it has abundance of unexploited economic resources. However, it is lacking the will and the efficient usage of these resources. This was stated by Minister for Trade and Commerce Khurram Dastgir while ... Read More »

Trading posts to be upgraded scientificaly: Dastgir

ISLAMABAD: Federal Commerce Minister Khurram Dastgir has said that all trading border posts would be upgraded on scientific basis to promote trade in the region. “The government is re-assessing country’s trade strategy and in future it would focus its attention on those regions where there is high demand of Pakistani goods,” he said in a statement. Read More »

Dastgir announces July-Feb trade deficit at $12.542b

ISLAMABAD: Federal Commerce Minister Khurram Dastgir has announced the trade deficit for the first eight months of the current fiscal year during the session of the National Assembly. While explaining the declining trend in trade deficit in the recent years, Khurram Dastgir said that this fiscal year from July 2013 to February 2014 the difference in national export and import ... Read More »

Dastgir for promotion of trade within the region

ISLAMABAD: Federal Minister for Commerce Khurram Dastgir has said that the incumbent government wants to promote trade with all neighbouring countries. He said that trade concessions will be given only on reciprocal basis, ccording to Radio Pakistan. He said significant progress has been made in talks with New Delhi. He expressed hope that further progress will be made after installation of ... Read More »

Pak-Iran trade resumes after 12 days

QUETTA: Iranian authorities have opened up the trade gate on Pakistan-Iran border in the border town of Taftan on Wednesday. Earlier, the border had been closed during vacations of Noroz festival. The trade gate remained closed for 12 days. Cross border trade between Pakistan and Iran resumed after the opening of the gate. Read More »

Textile sector to be top beneficiary of trade regularization with India

LAHORE: Pakistani textile sector will be the leading beneficiary of trade normalization between India and Pakistan if any major breakthrough takes place. Cross border trade with India holds important implications for Pakistani economy especially for textile sector, experts have said. According to reports, India has recently accepted Pakistan’s stance of removing its textile products from prohibitive list. Furthermore, struggle is under way from both sides ... Read More »