PEW demands govt to sign FTA with Iran
ISLAMABAD : The Pakistan Economy Watch (PEW) on Sunday urged the government to sign a free trade agreement (FTA) with Iran to boost trade.
President PEW Dr Murtaza Mughal called for initiating serious efforts to boost trade with Iran.
Both the countries have enforced a number of tariff and non-tariff barriers that had resulted in reduction in legal trade while triggering smuggling, he said.
Dr Murtaza Mughal said that Pakistan and Iran could become good trading partner for which serious efforts had been initiated while an FTA would be an achievement. Pakistan should enhance electricity imports to 1,000MW while start importing petroleum products to diversify it, he added.
Dr Mughal said pipeline project is still under sanctions. Therefore, every option should be explored to expedite it.
“The bilateral trade was once $1 billion but now Pakistan’s exports have come down to $128 million despite the agreement between both countries to boost trade to $5 billion in few years,” he said.
Pakistani beef, rice, fruit, vegetable, sports goods and IT services are in great demand in neighbouring nation, he said.
Source : Online