Sep 17 - 23, 2001
EU ready to remove quota restrictions
The European Union (EU) has offered to completely
remove quota restrictions on Pakistani products as a quid pro quo to
have free access to market in this country.
Abdul Razak Dawood, minister for commerce and
industries told newsmen that Pakistan had, however, asked for special
preferred tariff regime for its products like Bangladesh, Egypt and
Turkey, besides a two-year moratorium on anti- dumping duties. EU has
promised to consider this issue, he said.
Bilateral talks with the United States did not
yield desired results, although both sides agreed to consider each
other's positions, the minister explained on his return from United
States and Europe in connection with pre-WTO (World Trade
Organization) meeting in Doha from November 9 to 13. The US has also
did not entertain Pakistan's request to remove quota restriction on
He said the issue of removal of quota restrictions
has been under discussion between EU and Islamabad since April this
year, and the two sides have understood each other's stand after a
number of rounds in Brussels and Islamabad.
The minister said that discussions on special
tariff like being enjoyed by Bangladesh, Egypt and Turkey were still
going on and Pakistan's economic team in Brussels would follow it up
and in coming days.
To a question about talks with the United States,
the minister said that he discussed the dispute of combed yarn with
Robert Zoellick, the trade representative and adviser to President
He said that Pakistan took them (US) to the court
and won the case and then they went into appeal and Pakistan again
won. Once again they have gone into appeal, but "we have asked
them not to pursue because it is just wastage of time."
The minister said that they had agreed to examine
Pakistan points and take a decision very soon. He said that the United
States wanted to merge 338 and 339 textile categories and "we
said we would consider it."
Pakistan exports to Korea up by 25pc
Despite lower than expected growth in the economies
of both Korea and Pakistan the two-way trade between the two countries
touched all time high at $700 million in the year 2001.
This was stated by Korean ambassador Yoon-Jee Joon
while talking at a dinner given in his honour by the president of
Pak-Korea Friendship Society, Iqbal Mangrani on Monday.
Regardless of economic slowdown, witnessed by both
the countries, he said, exports from Pakistan to Korea registered an
encouraging rise of 25 per cent and exports to Pakistan from Korea
recorded an increase of 9.6 per cent. Referring to lesser growth in
Korean exports to Pakistan Yoon-Jee Joon said it was because of
Korea's own economic problems and not of any factor concerning
Presently, he said, Korea is having a joint venture
in automobile industry, which is being successfully run and has
created its market in Pakistan.
Wheat export to Iraq
Trading Corporation of Pakistan is using all
channels to export 350,000 tons of wheat to Iraq during the current
phase of UN oil-for-food program.
TCP chairman Syed Masood Alam Rizvi told APP on
Thursday the country could not participate in the bidding for wheat in
the on-going phase-10, as Pakistani wheat was on Iraqi port for
"Now Iraq has accepted the quality of
Pakistani wheat in accordance with the required specifications about
protein content, gluten, moisture, etc. and Pakistan can supply the
required quantity to Iraq", he said.
4,250 tons soya bean oil sold
The Trading Corporation of Pakistan in its auction
on Thursday sold 4,250 tons of imported soya bean oil.
The corporation sold the edible oil at the price
ranged between Rs36,505 and Rs36,506 at the auction held at the TCP
head office, says a press release.
US softens stand on textile quota curbs
The United States has agreed to consider Pakistan's
concerns relating to a softening of quota restrictions on Pakistani
textile exports, although no immediate progress has been made on the
issue. This is the impression gathered following Federal Commerce
Minister Abdul Razak Dawood's talks in Washington with US trade
representative Robert Zoellick in the first cabinet-level contact on
trade issues between the Bush administration and the Musharraf regime.
Tax-free cement export to Kabul, CARs
The Central Board of Revenue (CBR) has allowed
zero-rated export of cement and tobacco leaf to Central Asian
Republics (CARs) and Afghanistan via land route.
The decision has come into effect from September 6,
2001 through an amendment in SRO No 547, said a notification No 625
(I) 2001. Formerly the government had levied Central Excise Duty on
the export of these items to CARs and Afghanistan.
The tax authorities attached high importance to the
tax exemption, and were of the opinion that it would help boost
exports of the country to CARs and Afghanistan.
The Central Board of Revenue (CBR) is considering
to reduce duty on import of black tea from 20 to 10 per cent to check
the smuggling of the commodity, an official source said on Wednesday.
According to figures made available, ratio of
smuggling of tea had enormously discouraged from 35,000 to 15,000 tons
annually following cutting down of its import duty from 45 to 20 per
cent in 1998.