ISLAMABAD: Commerce Secretary Sardar Ahmad Nawaz Sukhera said on Friday that bilateral trade between Pakistan and Australia couldn’t achieve its potential and has remained stagnant over the years mainly due tariff differential that exports have to face in the Australian market.
Talking to Australian High Commissioner to Pakistan Dr Geoffrey Shaw at the commerce ministry, Sukhera stated that the Australian side should consider Pakistan’s request for preferential treatment through a PTA/FTA or change of the country’s status in Australian System of Tariff Preferences so that Pakistan could get an advantage in the Australian market.
He further stressed the need for collaborations between the business communities of the two countries, particularly in the fields of dairy & cattle farming and services sectors. He also highlighted investment opportunities sprouting as a result of the conclusion of China Pakistan Free trade Agreement (CPFTA) and development of the China Pakistan Economic Corridor (CPEC).
The high commissioner on the occasion agreed that cooperation between the two countries should be enhanced through joint ventures and transfer of technology. He informed about different projects being undertaken by the Australian government in Pakistan for capacity building purposes.
Both sides also discussed issues pertaining to the upcoming meeting of Pak-Australia Joint Trade Committee.