Speaking at a Round Table on the topic of “New Partnerships and Trust Focused Neigbourhood Policy,” the Commerce Minister said the newly concluded Pakistan-Afghanistan Transit Trade Agreement opens new horizons for enhancing bilateral economic cooperation. He also referred to his recent visit to
and said the decision by Pakistan
to grant MFN status
will further boost regional trade. Makhdoom Fahim said India has
successfully negotiated several free trade and preferential trade agreements
with many countries in the region and beyond which will help dividends for the people
of the region. Pakistan
Highlighting the major successes of the present government in
Mr. Fahim said exports of Pakistan has witnessed steady growth and exceeded US
$ 24 billion last year despite global economic slow down and war on terror.
Similar is the case with foreign exchange reserves that have crossed the US $
17 billion mark.
Makhdoom Fahim informed the audience about the liberal investment regime in
. He said Pakistan has
established Special Economic Zones and attractive incentives offered in these
zones include: 10 years income tax holiday for zone developer, duty free import
of plant and machinery, 5 years income tax holiday for investors, one window
facilities and provision of utilities. Cheap and skilled labour, low cost of
inputs and liberal investment policies are resulting in renewed interest in Pakistan , he added. Pakistan
The Minister identified power generation, infrastructure, agriculture and construction as priority areas for investment.
Other speakers who addressed the round-table included H.E. Ekmeleddin İhsanoğlu, the Secretary General, Organisation of Islamic Cooperation; H.E. Dr. Emir Mansur Burghei, Under Secretary, Foreign Affairs of Islamic Rep. of Iran; H.E. Kürşad Tüzmen, Former Minister of External Trade; and Halil Akıncı, Secretary General, Turkish Council. Organized by International Cooperation Platform, about 200 high-ranking businessmen and officials from 41 different countries are attending the event.
Photo caption: Makhdoom Muhammad Amin Fahim (2nd from Left to Right), Pakistani Senior Minister for Commerce attending the 2nd Bosporus Regional Cooperation
Summit at on 23 November 2011 Istanbul