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Pakistan, EFTA begin talks to boost bilateral trade
October 26, 2017
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ISLAMABAD: Pakistan and four-member European Free Trade Association (EFTA) initiated talks to finalise an agreement to take up the bilateral trade from the current level of less than one billion dollars.

The first meeting of the joint committee of Pakistan and EFTA member states was held in Geneva where both the sides discussed the status of bilateral trade and investment and agreed to explore future opportunities.

EFTA is a free trade association of four member states, comprising Iceland, Liechtenstein, Norway and Switzerland. Currently, the bilateral trade value stands at $588 million despite an enormous potential. Secretary Commerce Younus Dagha led the Pakistani side and showcased Pakistan’s open and friendly investment policies, with the recent rise in inward investment in the country.

Dagha made a detailed presentation on trade and investment opportunities in Pakistan, highlighting the improvements in the law and order situation, and rapid gains in the areas of energy, telecommunications connectivity and other infrastructure as a result of effective actions undertaken by the government.

“The developments under China-Pakistan Economic Corridor (CPEC) are a particular milestone, which is proving beneficial for not only the region but also for European investors in Pakistan,” he said in a statement.

“By entering into joint ventures with Pakistani businessmen, European Free Trade Association businesses could establish their footprint in the region and benefit from Pakistan’s increasing connectivity in the region of South and Central Asia.”

Internews

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