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LoC tension won’t affect trade: Dar

Discussion in 'South Asia & SAARC' started by layman, Aug 21, 2013.

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  1. layman

    layman Aurignacian STAR MEMBER

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    ISLAMABAD: Notwithstanding continued exchange of fire with India on the Line of Control, Pakistan did not foresee its spill over to dent the policy of linking regional countries through trade.

    “Any abnormal situation in any of the South Asian Association for Regional Cooperation (Saarc) member country should not halt bilateral trade relations among and between any of the members,â€￾ said Finance Minister Ishaq Dar on Tuesday on the conclusion of a two-day Pakistan-Nepal Joint Economic Commission.

    He was answering questions if worsening relations between Pakistan and India would negatively impact economic cooperation among the Saarc members. He said Pakistan adhered to the principle that any abnormal situation should not halt Pak-India trade relations and this would be further clarified after the Defence Committee of the Cabinet meeting on Thursday.

    “We understand the concerns arising due to tensions in relations but these will not have implications on trade negotiations between Pakistan and Nepal,â€￾ he said while speaking on the occasion of signing of minutes of discussions at the JEC session.

    Responding to a another question on allowing India access to Afghanistan via Pakistan in return to have access to landlocked Nepal through India, Dar said the issue was on active list of agenda but any decision will be taken in consultations with all stakeholders.

    Dar said both Pakistan and Nepal agreed to enhance economic relations. Pakistan gave draft of Free Trade Agreement to Nepal while also exchanging another draft of Memorandum of Understanding on cooperation in alternative energy sources.

    He said both the countries agreed to increase interaction for business cooperation and would also exchange a draft MoU for cooperation between the central banks of both the countries.

    To a question, Dar said the issue of reducing air cargo fare and increasing numbers of commercial flights will be taken up in the next meeting. Nepal wanted Pakistan to reduce cargo fare and increase numbers of direct flights between both the nations. The issue will be taken up in the meeting of Joint Committee on Trade and also in Air Services Agreement (ASA) talks scheduled in September 2013.

    Dar said to find common avenues for cooperation in the agriculture field, a meeting of Joint Working Groups will be held next week.

    Minister for Finance of Nepal Shanker Prasad Koirala emphasised the need for an active participation of private sector aimed at deepening the economic and commercial ties.

    During the JEC, two sides had detailed discussions on Trade and Commerce, Banking and Finance, Agriculture, Energy, Information Technology and telecommunication, Health, Education, Postal Services and Civil Aviation.

    A draft of the Free Trade Agreement between Pakistan and Nepal was handed over to the Nepalese side for their examination. Further negotiations in this regard will be held by a Joint Trade Committee of the two countries.

    The two sides agreed that the Federation of Pakistan Chambers of Commerce and Industry will explore areas of trade diversification particularly involving the private sectors of the two countries in collaboration with Federation of Nepal Chambers of Commerce & Industry and the exchange of Business delegations will be made a regular feature.
     
  2. Rock n Rolla

    Rock n Rolla Lt. Colonel STAR MEMBER

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    Yes !! We should invite Pakistan for a Cricket series too...sporting ties shouldn't be affected as well :sarcastic:
     
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