Australia has slashed duty on Pakistani products mainly textile products by 50 per cent - from 10 percent to five percent - in response to concerted efforts of incumbent government especially the Commerce Ministry. This was disclosed by Commerce Minister Engineer Khurram Dastgir Khan in an exclusive chat with this correspondent at his office in the Commerce Ministry after a meeting with the Australian High Commissioner. "Pakistan's textile, clothing and footwear will be the beneficiary of the reduction in the duty by the Australian Government," he added.
According to the Commerce Minister, duty has been slashed on 226 tariff lines of which only eight are non-textile items and remaining 218 are related to textile sector - 63 are home textile. "Australia has slashed duty on items of Pakistan's interests and expertise. We have conveyed thankfulness on behalf of Government of Pakistan," he continued. Replying to a question, Commerce Minister said the Commerce Ministry would now chalk out a plan aimed at facilitating Pakistani textile sector entrepreneurs with Australian buyers. "We are preparing our plans prior to the visit of Prime Minister Nawaz Sharif to Australia early next year," he maintained.
Commerce Minister further stated that an Australian trade mission will visit Pakistan in October 2015 to review the current state of the bilateral trade relationship. Australia supports Commerce Ministry particularly through the World Bank on regional connectively issues especially Pakistan's relationship with Afghanistan and Central Asia.
"We have requested Australia to also include Iran in regional connectivity agenda to which they were quite positive," he further said. Trade between Pakistan and Australia was roughly around $550 million in 2013-14 and trade balance is almost same for the two countries. Pakistan is exporting textile, leather, cotton etc. Australia has also allowed import of Pakistani mangoes. Presently, Pakistan is seeking Australian government's co-operation in agriculture and to facilitate access of Pakistani dates and Kinnows to the Australian market.