Commerce Minister Humayun Akhtar Khan on Wednesday said Pakistan will sign free trade agreements (FTAs) with Malaysia and Singapore while negotiations are in progress for signing of similar agreements with the European countries.
Humayun Akhtar, who is currently in Paris and attending Organisation for Economic Co-operation and Development (OECD) meeting in Paris told APP by phone that OECD is a group of wealthiest nations and its invitation to Pakistan is an honour for our country.He added that DG WTO Pascal Lamay and ministers for trade from various countries including Japanese minister for international trade attended the seminar.
Humayun Akhtar said during the OECD conference, fruitful negotiations were held and positive beginning has started on Doha agreement with a breakthrough and expressed the hope that a deal would be reached soon on the Doha agreement.
He added that this breakthrough is very important for Pakistan as the developed countries would reduce their agriculture subsidies and this would also benefit our farmers and our textile products would be competitive in the international markets.
About his meeting with French businessmen and its outcome Humayun Akhtar Khan said that he had held fruitful discussions with French businessmen and they are interested in investment in power generation, telecom and other sectors.
He added that Medef, a French company delegation is visiting Pakistan in June this year while a delegation of Paris Chamber of Commerce and Industry (PCCI) is coming to Pakistan in September this year to explore the avenues for investments in Pakistan.
French companies are famous in fashion designing and Pakistan's long term trade relations would benefit our textile sector and they would assist Pakistan in fashion designing of the textile, benefiting our industry.
Humayun Akhtar said that Pakistan is negotiating for FTA with European Union adding he is actively involved in lobbying for FTA with EU. In this regard, he said, he is visiting Italy, United Kingdom and Berlin (Germany).
He expressed the hope that Pakistan would be able to sign FTA with European countries and trade and investment relations would further be strengthened and Pakistan would benefit from these initiatives.
The minister highlighted the need to establish linkages between the French and Pakistani companies in the textile sector. He also emphasised the provision of better market access to Pakistani products and the need for a FTA with the European Union, keeping in view the strategic aspect.
Copyright 2007 APP (Associated Press of Pakistan)Business Recorder
