Ministry of Commerce organised a seminar on "how to rationalise existing transit trade and transport agreements" on Thursday. The objective of the seminar is to disseminate information on regional trade and economic connectivity and to generate new idea for enabling Pakistan to capitalise upon the opportunities emanating from improved connectivity.
The seminar included: Ministry of Commerce, Federal Board of Revenue, Ministry of Foreign Affairs, and National Trade & Transport Facilitation Committee and other officials form public and private sector. The keynote speaker Secretary Commerce Zafar Mahmood said that Pakistan has signed a number of transit trade, transport agreements with the countries of the region, but most of these agreements are facing operational issues.
"Similarly various international conventions are held up at various stages of ratification and accession. It is in this backdrop ministry of commerce decided to organise this seminar". He said that it is the endeavour of Ministry of Commerce to generate environment, which can facilitate increase economic growth through our integration with regional markets and expansion of trade. This will provide increased opportunities and support for traders and logistic industry.
Secretary said that Pakistan is a member of various regional economic co-operation organisations. However, unfortunately the volume of interregional trade is miniscule as compare to the overall international trade of these countries. As such, we have not able to exploit the potential of regional trade. It is time to make 'regional integration' a tool for growth and economic development because regional connectivity is the pre-requisite for achieving such a goal. He highlighted that ministry of commerce believes in public-private consultation and co-operation in all matters of national importance.-PR
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