KARACHI: Both Pakistan and India have agreed in principle to remove all non-tariff barriers (NTBs) with due consultations to promote bilateral trade between the two countries, said Secretary Commerce, Zafar Mehmood on Thursday.
"It is a new phase of trade between the two neighbouring countries," he said while addressing the members of the Karachi Chamber of Commerce and Industry (KCCI).
"We must have interaction with mutual understanding of the private sector to remove all the obstacles to trade between the two neighbouring countries, otherwise, smugglers would be fetching all the profit," Mehmood pointed out while responding to all the queries of the businessmen.
He said the meeting between the Commerce Secretaries of both the countries, scheduled to be held in New Delhi this month, and would focus on removal of non-tariff barriers to achieve the real objective of this facility that is to boost bilateral trade for the benefit of the common man on both sides.
The consumers on both the sides would be the ultimate beneficiaries of the move; he argued adding that in the changing global economy the regional trade is the only answer.
Responding to apprehensions shown from the KCCI members , he assured that nothing would be placed on the positive trade list without due consultation with representatives of chambers and trade bodies of the country.
"We certainly would take care of our national interests and the local industry. We would move inch-by-inch on revising the trade list," he remarked.
He, on this occasion, said a team of experts of the Commerce Ministries of both the countries would deliberate upon the pros and cons of the bilateral trade ties.
Indian team of experts is due in Pakistan next month to pursue the agenda, the Secretary said.
He explained that the commitment of giving 'the most favourite nation' status to each other remains to be the major concern of private sector of both the countries.
"There is no space to talk about negative list as far as accords pertaining to WTO and the relations with the neighbours are concerned," Zaffar Mehmood said.
Referring to his recent visit to India along with Commerce Minister Makhdoom Amin Fahim, it was agreed that India would support Pakistan in the WTO on EU waiver issue.
The Secretary Commerce said that the Minister also extended an invitation to Prime Minister of India Dr Manmohan Singh on behalf of the Pakistani leadership to visit Pakistan.
President KCCI Mian Abrar Hussain said that the issue granting MNF status to India needs to be realized as India should come forward with open mind and to promote bilateral investment to further deepen the economic relations.
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