National Assembly Body Investigates Import Export And WTO Policies

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National Assembly body investigates import export and WTO policies

Standing Committee on commerce & Textile has investigated and scrutinized the Export, Import and WTO policy directions, challenges, initiatives way forward vision 2019 -2024, assessment of future reciprocal Free Trade Agreements (FTA) access trends in Pakistan

Islamabad (UrduPoint / Pakistan Point News / Online - 16th April, 2019) Standing Committee on commerce & Textile has investigated and scrutinized the Export, Import and WTO policy directions, challenges, initiatives way forward vision 2019 -2024, assessment of future reciprocal Free Trade Agreements (FTA) access trends in Pakistan.The fourth meeting of the Standing Committee on Commerce and textile and Telecommunication was held in Constitution Room (2nd Floor), Parliament House, Islamabad, Chaired by Syed Naveed Qamar MNA.Apprising the Committee the Advisor on Commerce and Textile, Abdur Razzaq Daud on the recent visit to China on Free Trade Agreement access, he informed that many items list (in hundreds) for reciprocal duty free export/ import (trade) to Chain is on the verge of final terms, further he stated that in near future much improvements are expected not only export to China but also to other Countries Indonesia, Bangladesh, Afghanistan, and Turkey also.The Secretary of Ministry of Commerce and Textile briefed the Committee in detail on the exports of Pakistan and World Trade Organization (WTO), while briefing on export it was declined during the period 2014-17 and same was increased for the years 2018-2019.There is need for enhancing export competitiveness components particularly in the areas i,e PM's Package, zero rating of 5-eport sectors, rationalization of energy costs for export sectors, exemption of export sectors from load shedding, tariff rationalization on raw material and intermediate products.In new policy initiatives, strategic trade policy frame work 2019-24, national tariff policy, trade related investment policy framework and regulatory reforms may be revisited for future improvements and growth of export and decline in import, he also suggested regulatory reforms as amendments in export/import policy order.

On WTO Secretary informed the committee about the Structure and functions, current issues faced by the Pakistan, the basic principles of trade were briefed in detail along with advantages of WTO.

The Multi-trade agreements, dispute settlement Body, reforms, transparency and the role of E-Commerce and norms of trade facilitation agreement (TFA) briefed to committee.The Chairman informed the members with regard to Sub-committee report on the visit Faisalabad Garment City, and JICA sponsored Faisalabad Garment City Training Centre to identify problems therein due to which the projects could not achieve objectives of their establishment.Another Sub-committee was constituted for its circulation by the Sanding Committee with the composition of four members including convener with the mandate to hear the Side of the State Life Insurance Company (SLIC) and the aggrieved employees of the Company.

The Committee issued instructions to achieve objectives with the principles laid down for tariff policy and revisit the relocation of value added industry, resource intensive, agro and agriculture re-processing.

The Ministry to brief on the WTO and export/import of Pakistan more conclusively in the next meeting.Meeting was attended by Syed Naveed Qamar, MNA/Chairman, Ali Khan Jadoon, MNA, Muhammad Yaqoob Sheikh, MNA, Nawab Sher, MNA Raza Nasrullah, MNA, Khurram Shahzad, MNA, Mian Muhammad Shafiq, MNA, Sajida Begum, MNA, Farukh Khan, MNA, Usman Ibrahim, MNA, Rana Tanveer Hussain, MNA, Rasheed Ahmed Khan, MNA, Tahira Aurangzeb, MNA, Shaista Pervaiz, MNA, Syed Javed Shah Jillani, MNA, and Advisor for Ministry of Commerce and Textile and Senior Officers of the Ministry and its Organizations.

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