Pakistan trade delegation explores FTA opportunities with Brunei
Tuesday, August 7, 2007
A FOUR-member Pakistani delegation left for Brunei Darussalam yesterday to explore possibilities of Free Trade Agreement (FTA) between the two Islamic states.
The delegation headed by Deputy Secretary of Pakistani Commerce Ministry Naeem Anwar will participate in the meeting of Pakistan-Brunei Joint Study Group (JSG) on bilateral trade.
This is second round of talks between Pakistan and Brunei on FTA.
The first round of talks held in Islamabad earlier.
The Pakistani delegation includes officials from Ministry of Industries and Ministry of Food and Agriculture.
Once the JSG completes its study, the recommendation will be submitted to both the governments: Sahab Hamid, the spokesman of the Pakistani Commerce Ministry told The Brunei Times.
This trade delegation is exploring further economic expansion links as a follow-up to Prime Minister Shaukat Aziz's visit to Brunei in May, last year. The attempt to export Pakistani labour and manpower, whom are proficient in English, as well as products and services was a significant aspect of the negotiations with the sultanate. Moreover, Pakistan also sought investment in Pakistani infrastructure, banking and insurance.
The bilateral trade between Pakistan and oil rich Brunei Darussalam during the financial year 2005-06 was US $3.3 million.
Exports from Pakistan were US$2.39 million while imports from Brunei were US$ 0.91 million.
Trade surplus for the same period was US$ 1.48 million.
Pakistan exports rice, sugar confectionary, cotton yarn and cotton fabrics to the sultanate. Pakistan has already signed FTA's with China and Sri Lanka.The Brunei Times
The delegation headed by Deputy Secretary of Pakistani Commerce Ministry Naeem Anwar will participate in the meeting of Pakistan-Brunei Joint Study Group (JSG) on bilateral trade.
This is second round of talks between Pakistan and Brunei on FTA.
The first round of talks held in Islamabad earlier.
The Pakistani delegation includes officials from Ministry of Industries and Ministry of Food and Agriculture.
Once the JSG completes its study, the recommendation will be submitted to both the governments: Sahab Hamid, the spokesman of the Pakistani Commerce Ministry told The Brunei Times.
This trade delegation is exploring further economic expansion links as a follow-up to Prime Minister Shaukat Aziz's visit to Brunei in May, last year. The attempt to export Pakistani labour and manpower, whom are proficient in English, as well as products and services was a significant aspect of the negotiations with the sultanate. Moreover, Pakistan also sought investment in Pakistani infrastructure, banking and insurance.
The bilateral trade between Pakistan and oil rich Brunei Darussalam during the financial year 2005-06 was US $3.3 million.
Exports from Pakistan were US$2.39 million while imports from Brunei were US$ 0.91 million.
Trade surplus for the same period was US$ 1.48 million.
Pakistan exports rice, sugar confectionary, cotton yarn and cotton fabrics to the sultanate. Pakistan has already signed FTA's with China and Sri Lanka.The Brunei Times
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