Minister for Privatisation and Investment Dr Abdul Hafeez Sheikh has said that decision for easing of visa restrictions on businessmen of D-8 countries in the recently concluded summit in Tehran would enhance trade among the member countries.
A business forum was held specially in Tehran, which was attended by representatives of Chamber of Commerce of D-8 countries to explore ways and means to enhance trade among member countries, he told PTV.
There was enormous potential in enhancement of trade among the member countries. During 1999 to 2002 the trade among D-8 increased from $ 14.5 billion to $21.3 billion.
An experts meeting would be held in June next in Pakistan to further enhance intra-trade among D-8. Tariff would be reduced and free trade agreement would be signed, the minister said adding rules would be devised and eased out to promote exports and imports among the member countries.
After D-8, Abdul Hafeez Sheikh said, ways and means were discussed with Iranian leadership to accelerate trade relations between Pakistan and Iran.
Iranian Deputy Vice President would attend the joint ministerial meeting to be hosted by Pakistan from March 5-7 to reduce tariff in order to discourage smuggling between Pakistan and Iran, he informed.
In Pak-Iran joint ministerial meeting tariff reduction and enhancement of trade volume would be explored, he added.
Besides, the trading of gas and electricity would be discussed in the border areas of Pakistan and Iran, he said.
To facilitate and augment bilateral trading, he said, one more border post would be opened on Pak-Iran border in Balochistan.
To expedite implementation of decisions of D-8, ten seminars would be held in which four seminars on drip irrigation, small and medium enterprises and preferential tariff agreement would be hosted by Pakistan, he said.
He said that the shares of Sui Southern Gas Company (SSGC) would be given through balloting.
Appreciating response of the people he said, 250,000 record breaking applications were received. "We will try to offer new shares every month," he added.