Islamabad: Parliamentary Secretary for Commerce Aliya Hamza Malik Thursday informed the National Assembly that Pakistan and Iran had conducted negotiations over the establishment of barter trade mechanism and to promote cooperation in the fields of customs, agriculture and industry. Responding to questions during Question Hour, she said Ministry of Commerce had joint trade committee with Iran, co-chaired by the commerce ministers of both countries. She said that 8th meeting of joint trade committee was held on July 4, 2019 in Islamabad. “Both sides conducted negotiations over the establishment of barter trade mechanism, cooperation in the fields of customs, agriculture and industry,” she said. She said that her ministry was in the process to renew the Memorandum of Understanding between Trade Development Authority of Pakistan and International Exhibition of Iran.
The Parliamentary Secretary said that the ministry had also initiated negotiation for Free Trade Agreement (FAT) with Iran. For this purpose a Technical Negotiation Committee for Pak-Iran FTA was established.
Responding to another question, she said that, banning of trade with India had benefited the country’s growers. He said that export during the tenure of Pakistan Tehreek-i-Insaf had enhanced. “Exports are witnessing growth whilst imports have been reduced” she added. Responding to another question she said the third biennial review of GSP Plus scheme 2018-2020 was going to be completed tentatively in early February 2020. Pakistan had successfully concluded two previous reviews in 2016 and 2018 respectively. She said that in order to prepare for the Third Biennial Review 2018-2020, the government had submitted its response to the list of issues and follow up questions including 10 identified priority areas to the European Union. Based on Pakistan’s report, EU had prepared its report which will be shared with the EU Parliament.