Economics & Business

Pakistan, Jordan moves rapidly toward FTA

SHARM EL SHEIKH: Pakistan and Jordan have decided to rapidly move towards the signing of the Free Trade Agreement and set up business council to create more space for cooperation in trade and commercial fields. This came up during a meeting between Prime Minister Syed Yousuf Raza Gilani and his Jordanian counterpart Nader el Dahabi in Sharm el Sheikh Monday morning. Syed Yousuf Raza Gilani said Pakistan looks to benefit from the highly developed Jordanian tourism industry. The two leaders also decided to look into the possibility of resumption of air flights between the two countries.

Prime Minister Yousuf Raza Gilani said Pakistan and Jordan enjoy close brotherly relations and there is need to tape the available opportunities for promoting trade and investment between them. He said there is a vast scope of bilateral cooperation in diplomatic, economic, defence, security and science and technology fields. He said the two sides need to activate the existing mechanisms to achieve the desired level of interaction between the investors and traders belonging to the two countries.

Syed Yousuf Raza Gilani expressed the hope that the 9th session of the Joint Economic Commission due to be held soon will help boost bilateral commercial ties. Similarly necessary mechanisms in the shape of MOUs and agreements on trade, tourism, maritime trade, avoidable of double taxation that already exists needs to be implemented and energized. He said Pakistan is in a position to provide Jordan the requisite expertise and technical know how to help develop Jordan’s textile sector and welcomes Jordan’s interest in Pakistan’s defence manufacturing and research facilities. He invited the Jordanian Prime Minister to visit Pakistan.

The Jordanian Prime Minister said his country is keen to expand cooperation and their doors are open for this purpose. He said Pakistan has highly developed nuclear industry and Jordan would like to benefit from its experience. Earlier, addressing a special session of the World Economic Forum on the Middle East Prime Minister Syed Yousuf Raza Gilani said there would be no paradigm shift in economic policies rather the present democratic government would improve them. He said the government will introduce some new policies to tackle the food crisis. He said a new comprehensive energy policy will be announced soon to overcome electricity shortage.

Syed Yousuf Raza Gilani told the business leaders that after its transition to democracy, Pakistan is ready for business. People are awaiting democracy dividends which could be delivered by the government with the help of friends abroad. Referring to his government’s one hundred day programme, he said despite enormity of global challenges, Pakistan has the capabilities to achieve the goal of peace and prosperity. He said the issue of judiciary will be resolved according to constitution of Pakistan. Both the major parties have agreed to restore the deposed judges and they are working about the modalities of the issue.-SANA

About the author

Rubab Saleem

Rubab Saleem is Editor of Pakistan Times

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