Trade with India in interest of Pakistan: Minister

11 Jun '14

2 min read

Trade with India was actually in the interest of Pakistan and the Government is taking steps to improve infrastructure at the Wagah border with India to enhance land trade, Pakistan’s Minister of Commerce Khurram Dastagir Khan has said.

Addressing a joint press conference with the Minister of Textile Industry Abbas Khan Afridi, Mr. Khan said a Land Port Authority (LPA) Bill would be soon placed in the National Assembly for providing legal framework for enhancing regional trade through land ports.

In the first phase of improving land trade infrastructure, modern infrastructure supported with information technology would be erected at Wagah border with India, and at Chaman and Turkham borders with Afghanistan, to boost land trade with these countries that neighbor Pakistan, Mr. Khan said.

Replying to a question, the Minister said he expects trade negotiations with India to resume in the next few months.

The Minister further informed that the State Bank of Pakistan, in consultation with Ministries of Commerce, Textile and Finance, is working on establishing an Export Import (EXIM) Bank by the end of 2014. The setting up of the bank would smoothen the trade process for both exporters and importers.

Speaking on the occasion, Mr. Afridi said the Government was now focusing on value addition to get more prices for textile products. He also said that the Government would promote the use of Bt cotton by expediting regulatory approvals, including bringing necessary amendments in Seed Act 1976 and promulgation of Plant Breeders’ Right Act.

The Textile Minister said the new Textile Policy (2014-19), to be announced next month, would increase the value-added product exports by over US$ 2 billion, and create about five million new job opportunities a year.

He said the increase in exports of value-added exports would be visible in the export data for 2015-16.

Fibre2fashion News Desk - India

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