AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

To promote trade among member states, the ECO Council of Heads of Customs Administration (CHCA) will submit their comments by April 30 on rules (Rules of Origin) for providing duty concessions on goods produced/traded in the region.
The ECO member countries including Afghanistan, Azerbaijan, Iran, Kazakhstan, Pakistan, Tajikistan, Turkey, Turkmenistan and Uzbekistan will submit their viewpoint before the set deadline to the ECO secretariat.
Sources said here on Monday that during the third ECO meeting, the representative of Turkey insisted on the necessity of compliance on their proposal based upon the EU Rules of Origin.
He pointed out the difficulties Turkey might face in case of implementation of two different sets.
He informed the ECO members that adopting the Turkish proposal would ease ECO members' export to the EU.
The Iranian representative explained the need for simple Rules of Origin, which are more suitable to the special economic situation of the developing member countries and stressed that the text proposed by Iran can serve this purpose.
The representative of Kyrgyzstan Republic mentioned that the CIS Rules of Origin adopted in 2000 by some ECO countries should also be taken into consideration.
The representative of Pakistan recalled the efforts for a simple ECO Trade Agreement.
The Turkish representative explained that their position is based on technical studies and further consultations are required with the business communities and other stakeholders.
The Iranian delegate, acknowledging the viewpoint of Turkish delegation to consult stakeholders, also stressed for adopting uniform and simple Rules of Origin. Other member countries supported the Iranian point of view.
The delegates agreed to give more time to member states for consideration. All member states shall send their views/comments to the ECO secretariat by April 30.
The ECO secretariat, assisted by a sub-group comprising Iran, Pakistan and Turkey will study those comments to decide whether there is a need to draft new ECO Rules of Origin.
In case a decision is reached to frame new rules, the sub-group will assist the ECO secretariat for drafting the same, which will be sent to member countries enabling them to discus such Rules of Origin in the second experts group meeting.

Copyright Business Recorder, 2004

Comments

Comments are closed.