Minister for Commerce Engineer Khurram Dastgir Khan chaired an inter-ministerial meeting attended by Secretary Textile Industry and Secretary Commerce. According to a press release, the minister said the required notifications for both textile and non-textile sectors based upon the announcement made by Prime Minister Nawaz Sharif to give duty drawback package to exporters has now been issued and the required circular is expected any day.
The minister further said all the procedural formalities had been completed and very soon the exporters would be able to take advantage of the package as it would be available for exporters from January 16, 2017. Commerce Minister also held a meeting with Secretary General, Economic Cooperation Organisation (ECO), Halil Ibrahim Akca.
He welcomed the delegation led by Secretary General ECO and said Pakistan attached high importance to the ECO Trade Agreement (ECOTA) and that expeditious implementation of the ECOTA tariff concessions would be a major step towards minimising barriers to trade and ultimately establishing a free trade area in the ECO region.
The ECOTA was signed by five out of ten ECO member states, including Pakistan, Afghanistan, Iran, Tajikistan and Turkey. Dastgir said Turkish government must open ECOTA concession list because Pakistan seriously considers the ECOTA Agreement and has already opened its concession list. Pakistan, designated as the co-ordinating country of ECOTA, had taken a lead in opening ECOTA concession list to the ECO Secretariat in 2008.-PR