EU envoy asks Pakistan to improve trade ties with neighbours

[p(-)0ENiX]

European companies were planning to start some projects Pakistan's transport, energy and agriculture sectors. — File photo

EU envoy asks Pakistan to improve trade ties with neighbours
Kalbe Ali - 2014-03-19​

ISLAMABAD: Ambassador of European Union (EU) in Pakistan Lars-Gunnar Wigemark has stressed that Pakistan needs to strengthen trade and business relations with its neighbours.

“It is highly encouraging that the current government is working on this issue and it is expected that with these initiatives the economic activities will boost up in near future,” he said during his visit to Islamabad Stock Exchange Limited (ISE) here on Tuesday.

Mr Wigemark is heading a delegation of EU which includes Husnain A. Iftikhar, senior economist/trade officer.

He gave an overview on the role of EU in Pakistan and said European companies were planning to start some projects in the country’s transport, energy and agriculture sectors.

“We are working to increase trade and exchanging technology not only inside the EU, but also to non-EU countries, and Pakistan is a beneficiary of this policy,” Mr Wigemark said.

The two sides discussed the impact on Pakistan’s economy after the granting of GSP Plus status by EU to the country.

The delegation was briefed on the performance of the capital market and the ISE.

ISE members praised the contribution of EU in the growth of Pakistan’s economy.

ISE Managing Director Mian Ayyaz Afzal said that due to GSP Plus status Pakistani products would have duty-free access to European markets and there would be a substantial increase in the national exports, especially those of textile and garments.

“We expect the textile sector will witness a tremendous growth and it would benefit the stock markets too as textile sector companies comprise over 20 per cent of the total listed companies in Pakistan,” he added.

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[Pakistanisage]

GOOD IDEA.



Pakistan should listen to EU and radically improve its Trade with IRAN and AFGHANISTAN......

 

[Umair Nawaz]

GOOD IDEA.


Pakistan should listen to EU and radically improve its Trade with IRAN and AFGHANISTAN......

U just nailed this EU kid.

 

[Thorough Pro]

We have very good trade ties with our neighbour China, We are working on gas pipeline deal with another neighbour Iran. We provide full free access to all goods imported in to Afghanistan. So we are good with all our neighbours.

European companies were planning to start some projects Pakistan's transport, energy and agriculture sectors. — File photo

EU envoy asks Pakistan to improve trade ties with neighbours
Kalbe Ali - 2014-03-19​

ISLAMABAD: Ambassador of European Union (EU) in Pakistan Lars-Gunnar Wigemark has stressed that Pakistan needs to strengthen trade and business relations with its neighbours.

“It is highly encouraging that the current government is working on this issue and it is expected that with these initiatives the economic activities will boost up in near future,” he said during his visit to Islamabad Stock Exchange Limited (ISE) here on Tuesday.

Mr Wigemark is heading a delegation of EU which includes Husnain A. Iftikhar, senior economist/trade officer.

He gave an overview on the role of EU in Pakistan and said European companies were planning to start some projects in the country’s transport, energy and agriculture sectors.

“We are working to increase trade and exchanging technology not only inside the EU, but also to non-EU countries, and Pakistan is a beneficiary of this policy,” Mr Wigemark said.

The two sides discussed the impact on Pakistan’s economy after the granting of GSP Plus status by EU to the country.

The delegation was briefed on the performance of the capital market and the ISE.

ISE members praised the contribution of EU in the growth of Pakistan’s economy.

ISE Managing Director Mian Ayyaz Afzal said that due to GSP Plus status Pakistani products would have duty-free access to European markets and there would be a substantial increase in the national exports, especially those of textile and garments.

“We expect the textile sector will witness a tremendous growth and it would benefit the stock markets too as textile sector companies comprise over 20 per cent of the total listed companies in Pakistan,” he added.

**********​

 

[p(-)0ENiX]

GOOD IDEA.


Pakistan should listen to EU and radically improve its Trade with IRAN and AFGHANISTAN......

Lol!

I don't think EU's ambassador used the term "neighbor" in the literal sense. The article speaks of trade, investments, cooperation, & possible exchange of technology with European nations, but there is a definite need to enhance economic relations with other countries too. South Korea for instance has been invited to invest in the country's energy sector, & Pakistan is planning to increase cooperation with Bahrain as well. Apart from foreign investment, I would like to see the government encourage entrepreneurship in the local populace. Startup businesses are generally risky & many of them do fail, but if successful; not only do they encourage competition & somewhat limited innovation, they play their part in creating jobs, developing local brands, etc. The agricultural & industrial sectors of our economy are being somewhat catered too, but it's also necessary to build a knowledge based economy, encourage R&D, etc. All of this is bound to take time, but the country has to start by enhancing economic relations with other nations while simultaneously creating an environment that's friendly to businesses & investors.

 

[karan.1970]

We have very good trade ties with our neighbour China, We are working on gas pipeline deal with another neighbour Iran. We provide full free access to all goods imported in to Afghanistan. So we are good with all our neighbours.

Iran Pipeline plan has been shelved. Afghanistan and Pakistan regularly blame each other for promoting terrorism in each others' countries.

But China, no doubt

 

[Thorough Pro]

and what was your point?

Iran Pipeline plan has been shelved. Afghanistan and Pakistan regularly blame each other for promoting terrorism in each others' countries.

But China, no doubt

 

[karan.1970]

and what was your point?

Can't you see?

 

[p(-)0ENiX]

U just nailed this EU kid.

We have very good trade ties with our neighbour China, We are working on gas pipeline deal with another neighbour Iran. We provide full free access to all goods imported in to Afghanistan. So we are good with all our neighbours.

Yes, everyone knows about our diplomatic & economic ties with our immediate neighbors, & as mentioned earlier, I don't think EU's ambassador used the term "neighbor" in the literal sense anyway. Pakistan & China for instance have good economic & military ties including a free trade agreement, & as a result of that; trade between both countries will continue to improve for now. In any case, I mentioned my views on the need for increased cooperation with other countries & local entrepreneurship in post #5 of this thread. Pakistan should also purse the exchange of technology alongside joint ventures & R&D projects with developed nations. The benefits of that are not simply limited to improving local technologies or learning something from the cooperation, but it shall also help in creating a strong foundation for a knowledge based economy. To put it simply, Pakistan should focus on a variety of different economic sectors without neglecting the country's traditional areas of focus.

 

[StormShadow]

GOOD IDEA.


Pakistan should listen to EU and radically improve its Trade with IRAN and AFGHANISTAN......

Hope pakistan grants MFN status to them as well instead of India.

Pakistan may grant India MFN status on Friday - DAWN.COM