- Razak Dawood hopes bilateral negotiations for preferential commerce offers with Saudi Arabia, the United Arab Emirates and Oman will begin within the subsequent 6-12 months.
- “We really feel it is much better to do particular person (offers) in the meanwhile reasonably than with the GCC as a bloc,” he says.
- Adviser to PM on commerce says negotiations would cowl a restricted quantity items and wouldn’t be as complete as a free commerce settlement.
DUBAI: Pakistan will pursue particular person commerce offers with Saudi Arabia, the United Arab Emirates and Oman, Adviser to the Prime Minister on Commerce Razak Dawood mentioned on Sunday, as talks with the Gulf Cooperation Council stay stalled.
The GCC, which incorporates these three nations plus Qatar, Kuwait and Bahrain, began free commerce talks with Pakistan in 2004. It has not applied a free commerce deal since 2015.
Dawood advised Reuters on Sunday the South Asian nation hoped bilateral negotiations for preferential commerce offers with the three Gulf Arab states would begin within the subsequent 6-12 months.
“We really feel it is much better to do particular person (offers) in the meanwhile reasonably than with the GCC as a bloc,” he mentioned in Dubai.
A preferential commerce deal usually offers sure merchandise preferential entry comparable to by lowering or eradicating tariffs.
Dawood mentioned the negotiations would cowl a restricted quantity items and wouldn’t be as complete as a free commerce settlement, although over time the offers, if secured, may very well be expanded.
He didn’t say which items Pakistan would search to incorporate.
The UAE introduced this month it might search broad financial agreements protecting commerce and investments with eight nations, together with India, Britain and Turkey however not Pakistan.
Saudi, Emirati and Omani officers couldn’t be instantly reached for touch upon Dawood’s feedback.
Dawood is in Dubai to evaluate preparations for Pakistan’s participation on the six month Expo world honest being held there from subsequent month.
He mentioned Pakistan would spotlight security and variety at Expo, which he hoped would result in a rise in vacationers and investments within the South Asian nation.
This month, New Zealand’s cricket workforce pulled out of an upcoming tour of Pakistan over safety considerations.
“We weren’t anticipating one thing like this to occur and that’s the kind of notion that we’ve got to beat,” Dawood mentioned.