Aaj TV News

BR100 4,671 Increased By ▲ 6 (0.13%)
BR30 18,834 Increased By ▲ 160 (0.86%)
KSE100 45,369 Increased By ▲ 297 (0.66%)
KSE30 17,576 Increased By ▲ 146 (0.84%)
COVID-19 TOTAL DAILY
CASES 1,285,631 377
DEATHS 28,745 8
Sindh 476,017 Cases
Punjab 443,240 Cases
Balochistan 33,488 Cases
Islamabad 107,765 Cases
KP 180,146 Cases

Pakistan seeks trade deals with Saudi, UAE, Oman: Razak Dawood

27 ستمبر 2021
The GCC started free trade talks with Pakistan in 2004. Zem TV
The GCC started free trade talks with Pakistan in 2004. Zem TV

By Alexander Cornwell

Pakistan will pursue individual trade deals with Saudi Arabia, the United Arab Emirates and Oman, a Pakistani adviser to Prime Minister Imran Khan said on Sunday, as talks with the Gulf Cooperation Council remain stalled.

The GCC, which includes those three countries plus Qatar, Kuwait and Bahrain, started free trade talks with Pakistan in 2004. It has not implemented a free trade deal since 2015.

Adviser for Commerce and Investment, Abdul Razak Dawood told Reuters on Sunday that Pakistan hoped bilateral negotiations for preferential trade deals with the three Gulf Arab states would start in the next 6-12 months.

"We feel it is far better to do individual (deals) at the moment rather than with the GCC as a bloc," he said in Dubai.

A preferential trade deal typically gives certain products preferential access such as by reducing or removing tariffs.

Dawood said the negotiations would cover a limited number goods and would not be as comprehensive as a free trade agreement, though over time the deals, if secured, could be expanded.

He did not say which goods Pakistan would seek to include.

The UAE announced this month it would seek broad economic agreements covering trade and investments with eight countries, including India, Britain and Turkey but not Pakistan.

Saudi, Emirati and Omani officials could not be immediately reached for comment on the Pakistani official's comments.

Dawood is in Dubai to assess preparations for Pakistan's participation at the six month Expo world fair being held there from next month.

He said Muslim-majority Pakistan would highlight safety and diversity at Expo, which he hoped would lead to an increase in tourists and investments in the South Asian nation.

This month, New Zealand's cricket team pulled out of an upcoming tour of Pakistan over security concerns.

"We were not expecting something like this to happen and that is the type of perception that we have to overcome," Dawood said.