ISLAMABAD: Prime Minister's Advisor on Commerce and Investment Abdul Razak Dawood said that we want a Preferential Trade Agreement (PTA) with Afghanistan before signing Afghanistan, Pakistan Transit Trade Agreement (APTTA), which is going to expire in February 2021.
"We want to increase bilateral trade from $2.7 billion to $5 billion between Pakistan and Afghanistan in the next few years. We are working about the trade agreement and I will visit Afghanistan next month (November) and my main objective is to discuss the PTA before the agreement of the APTTA. It will take time to resolve the issues about trade and investment between Pakistan and Afghanistan. I hope all the problems will be settled in February next year," Abdul Razak Dawood expressed these views, while addressing concluding session of a seminar on "Pakistan-Afghanistan Trade and Investment Forum 2020" on Tuesday.
He said the improving the economic activity and trade were in the interest of both the countries.
He said that there was a need to integrate the economy of both the countries.
He said that we could increase trade between Pakistan and Afghanistan by resolving the issues relating to borders, successful negotiations for APTTA for next 10 years, and signing PTA to establish systemic procedure for trade.
He said that Afghan government had handed over list of items for trade and we would also give a list to Afghanistan.
Later, Chairman Senate Muhammad Sadiq Sanjrani said, while addressing the forum, that regional development and economic prosperity depend on effective coordination, trade cooperation, and better investment opportunities. He said Pakistan and Afghanistan had shared geographical, cultural and religious commonalities.
He said enhancing cooperation with Afghanistan was a key factor in Pakistan's foreign policy and it understood the vision of a peaceful neighbour.
He said it was time to transform bilateral relations into a strategic partnership.
The chairman Senate, while discussing the current trade volume between the two countries, said that there was a need to further improve and Pakistan was committed to further strengthening trade, economic and public relations with Afghanistan.
He said practical steps had been taken to open border for transit trade, relaxation in visa policy and promotion of people-to-people contacts, which were a reflection of Pakistan's commitment towards a prosperous Afghanistan.
He said such events would help in adopting a joint strategy for development and prosperity and would provide an opportunity to address barriers to trade and investment.
Speaking on the occasion, Speaker National Assembly Asad Qaiser said capitalising trade and investment potential between Pakistan and Afghanistan would bring regional prosperity and economic stability.
He remarked that parliament to parliament contact would ease the hurdles of traders and investors on both sides of the border.
He said both countries were facing the scourge of extremism, terrorism and economic deprivations and only collaborative efforts by two sides would lessen the intensity of socio-economic issues.
Copyright Business Recorder, 2020