Pakistan keen to end non-tariff barriers for regional trade growth

[Dubious]

ISLAMABAD: Pakistan wants an elimination of non-tariff barriers facing trade transactions in South Asia to give an impetus to the intra-region trade and further regional economic integration, a minister said.

“Non-tariff barriers in the intra-region trade must be brought down to pursue greater economic integration among Saarc (South Asian Association for Regional Cooperation) countries,” Minister for Commerce Khurram Dastgir Khan said, while talking to the representatives of the SAARC Chambers of Commerce and Industry (Saarc CCI), led by its President Suraj Vaidya. “They (countries) can benefit by enhancing intra-region trade.”

Only five percent of the total foreign trade of South Asian countries is among them, though they are living near to each other.

Experts said there are a number of roadblocks to the intra-region trade, including poor interconnectivity and non-tariff barriers.

The State Bank of Pakistan has already identified the main issues impeding trade growth. It said transaction costs of cross-border remittances in the Saarc region should be reduced. There is a need for capacity building of officials of member countries and establishment of Saarc Finance statistical database. The State Bank also called for joint research studies to explore common areas of interest.

Minister Khan said despite a slow-down and bleak forecasts for the international trade in the near future, the intra-region trade could be increased.

He said regional trading blocs, like European Union, Mercosur, Association of Southeast Asian Nations are deeply integrated, “and enjoy high percentage of trade within the region as compared to the Saarc.”

“Trade enhancement in the region requires bold initiatives from all the partners and private business sector has to be more vocal in conveying their message,” he said.

Khan said Pakistan has implemented numerous trade facilitation measures to support Afghan transit trade, which has resulted in the increase in Afghan transit trade from Pakistan in terms of the containers traded. Similarly, Pakistan held an understanding with Sri Lanka to further expand the bilateral free trade agreement, which will boost the bilateral trade, he added.

Vaidya said the Saarc CCI pinned its hopes of progress in economic integration on the upcoming SAARC summit to be held in Pakistan later this year.

He appreciated the Pakistan’s continuous endeavors towards furthering economic integration in the region.

“The world is witness to the fact economic cooperation and foreign trade has taken precedence over all other issues,” Saarc CCI head said. “Saarc CCI is holding a round of meetings with the governments in Saarc to convince them to improve trade facilitation and liberalisation in the region.”

http://www.thenews.com.pk/print/112...non-tariff-barriers-for-regional-trade-growth

 

[livingdead]

Pakistan is scared that Indian goods will flood their market, they will probably deal bilaterally with smaller countries like sri lanka or bd to remove barriers, and not at SAARC level. Pakistani businessmen(the producers of goods) will lose out if there is no trade barrier with India, and probably lobby the govt to keep it.

 

[CHD]

Pakistan is scared that Indian goods will flood their market, they will probably deal bilaterally with smaller countries like sri lanka or bd to remove barriers, and not at SAARC level. Pakistani businessmen(the producers of goods) will lose out if there is no trade barrier with India, and probably lobby the govt to keep it.

For the time being why dont you flood the rest of the world, i am yet to see a product which says made in india

 

[livingdead]

For the time being why dont you flood the rest of the world, i am yet to see a product which says made in india

the products we are good at are not good enough for many countries, especially europe and USA but certainly good enough for south asia. you can easily find them in other south asian countries.
Indian generic pharma companies can easily dominate market in pakistan, so will auto companies. Indian petrochem Industry also has economy of scale, so does steel Industry. pakistan is next door to us and not much transport cost will be required. We will face stiff competition in garment sector and probably cement as well. rice and condiments too.
can you think of any other sector in pakistan that can compete with Indian companies?

 

[Max]

We should first make sure that we dont lose jobs in goods which we locally produce.

To compete with india we have to match farmar's suicide rate.. which i dont want.. So no food import and export, tamatar pyaz only in worst situation.

 

[That Guy]

Pakistan is scared that Indian goods will flood their market, they will probably deal bilaterally with smaller countries like sri lanka or bd to remove barriers, and not at SAARC level. Pakistani businessmen(the producers of goods) will lose out if there is no trade barrier with India, and probably lobby the govt to keep it.

This is actually correct. Pakistan has already seen the effects of Chinese products flooding Pakistani markets, which Pakistan had to take drastic measures to contain; No doubt Indian products would have a similar effect, if not worse, due to cultural marketing tactics.

 

[Hellfire]

For the time being why dont you flood the rest of the world, i am yet to see a product which says made in india

Go to Africa and Europe and US and you will find Indian drugs ... next time you fall ill check your labels

 

[livingdead]

This is actually correct. Pakistan has already seen the effects of Chinese products flooding Pakistani markets, which Pakistan had to take drastic measures to contain; No doubt Indian products would have a similar effect, if not worse, due to cultural marketing tactics.

Which sector has chinese company flooded pakistani market? Apart from electronics and toys?

 

[waleed3601]

Indian generic pharma companies can easily dominate market in pakistan

auto companies i can agree on but no this. i think Pakistan's pharma industry is self sufficient for the country.

 

[livingdead]

auto companies i can agree on but no this. i think Pakistan's pharma industry is self sufficient for the country.

not really, being self sufficient is different from being price competitive. Indian generic companies can bring down the price to a level that pakistani companies simply cant compete. Apparently drugs are smugged via dubai(adding to its cost) before going to pakistan, and doctors even prescribe them.
India is known as pharmacy of the world(at least till now), so the threat is real.

 

[somebozo]

Only five percent of the total foreign trade of South Asian countries is among them, though they are living near to each other.

Experts said there are a number of roadblocks to the intra-region trade, including poor interconnectivity and non-tariff barriers.

Asian countries have primarily built an export oriented economy and to remain export competitive they drove down the wages of local workers...now the situation it as tipping point where export markets are shrinking and there is no local consumption..to create local consumption we will first have to create demand for locally produced goods and the purchasing power to afford them..that is localization of the economy...

 

[Max Pain]

Pakistan is scared that Indian goods will flood their market, they will probably deal bilaterally with smaller countries like sri lanka or bd to remove barriers, and not at SAARC level. Pakistani businessmen(the producers of goods) will lose out if there is no trade barrier with India, and probably lobby the govt to keep it.

That is correct and thats how it should be, atleast in some key sectors to have an equal playing field,
Gotta look for our own interests too.

 

[somebozo]

That is correct and thats how it should be, atleast in some key sectors to have an equal playing field,
Gotta look for our own interests too.

you forget the use of trade as an economic weapon where intelligence owned trading companies deliberately export below cost to destroy local industry..

 

[Max Pain]

yes i didnt know that,
yet another reason not let India gail foothold that easily

 

[That Guy]

Which sector has chinese company flooded pakistani market? Apart from electronics and toys?

Solar industry is basically dominated by chinese panels. there is also the steel industry (which is why PSM went from being profitable to a loss, to now being practically shut down), and currently civilian drone market is also being fiercely fought between local drone makers and Chinese drone makers.

...just to name a few.

auto companies i can agree on but no this. i think Pakistan's pharma industry is self sufficient for the country.

Nope. Pakistan's pharmaceutical industry would fall into bankruptcy, if Indian corporations were allowed into Pakistan. Indian medicine is simply cheaper, and unfortunately for Pakistan, has a much higher safety standard.