ISLAMABAD: Finance Minister, Senator Muhammad Ishaq Dar Tuesday emphasized that Europe and Asia must review their existing arrangements and open up markets by cutting down on tariff and non-tariff barriers.
According to a statement issued by Finance Ministry the minister highlighted the importance of open market strategy while participating in a seminar on "Asia-Europe Economic Cooperation: Fostering Greater Trade and Investment."
On infrastructure financing, Dar said, the multilateral development banks must come up with new instruments including bonds to bridge the gaps.
He also dwelled upon intellectual property rights and expanding e-commerce.
The seminar was held on the sidelines of Asian Development Bank's (ADB) Board of Governors Meeting here.
The Minister extensively spoke on issues relating to the slowdown in world trade growth impacting Asia- Europe economic cooperation; scaling up of economic cooperation with European countries and its diversification for mutual benefit.
Other panellists were Liqun Jin, President AIIB, Ulrich Schroder, CEO KFW, Kae Yanagisawa, Vice President JICA, and Stephen P. Groff, Vice President ADB. Toby Fildes, Managing Editor of Emerging Markets, moderated the seminar.
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