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Pakistan wants non-tariff barriers lifted for D-8 trade

* Qureshi invites entrepreneurs from D-8 countries to benefit from ‘liberal investment regime’

KUALA LUMPUR: Foreign Minister (FM) Shah Mehmood Qureshi on Monday proposed the removal of all non-tariff barriers to stimulate economic recovery in D-8 members countries.

According to a message by Pakistan’s High Commission in Malaysia, the foreign minister was speaking at the 12th opening session of the D-8 Council of Ministers’ meeting.

The FM said it was encouraging to note that since its inception in 1997, the intra D-8 trade had quadrupled from $14.5 billion to $61 billion. He suggested that D-8 countries should work towards achieving a target of $200 billion trade by 2012.

Qureshi said the member countries, with a population in excess of 930 million, had a “promising future” with vast natural resources, such as oil and gas, mineral and agriculture, scientific knowledge and industrial manpower.

“Our mutual cooperation in learning from each other’s experiences and sharing good practices will certainly help in achieving shared objectives,” he added.

He invited the entrepreneurs from D-8 countries and beyond, to come to Pakistan and benefit from the country’s “liberal investment regime”.

“In the context of D-8 countries, we should pay special attention to strengthen shipping linkages, for expansion of trade and commercial relations,” Qureshi said.

He said Pakistan had already developed a port in Gwadar, close to the Strait of Hormuz, to facilitate commercial activities and transit trade with Central Asian states.

Qureshi said Pakistan as an agrarian economy, would be happy to share its technical know how with other member countries to ensure food security in the group.

He suggested that D-8 countries should pay special attention to boost agricultural productivity through introduction of modern techniques and hybrid seeds.

Separately, Malaysian FM Dato Sri Hanifah Haji Aman said his country would support Pakistan’s request for a full dialogue partnership in the Association of South East Asian Nations (ASEAN).

At a meeting with Aman at the end of the session, Qureshi said Pakistan and Malaysia should take advantage of the existing fraternal relations between the two countries and move forward to translate this goodwill into meaningful economic cooperation. app

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