Govt utilising all resources to get trade concessions from EU

LAHORE - Federal Secretary Commerce Zafar Mehmood has said that the government is utilizing all its resources to get trade concessions from the European Union and in this regard an EU Company has already been hired to get the things done in shortest possible time.
The Federal Secretary was speaking at the Lahore Chamber of Commerce and Industry on Friday. LCCI President Zafar Mehmood Chaudhry and former Presidents Mian Shafqat Ali, Mian Muzaffar Ali and former VP Shahzad Ali Malik also spoke.
The Federal Secretary said that this was the most opportune time to win the trade concession from the United States and the European Union as there was a realization in the developed world that Pakistan should be compensated now for being the hardest hit in war against terror.
He said that Pakistan was eyeing a substantial trade concession both from the EU and the US, as it direly needs a huge amount to cope with various challenges being faced by the industrial sector. To a question about Trade Development Authority of Pakistan, the Federal Secretary said that new rules and regulations were being framed that would be implemented in a transparent manner.
On the issue of foreign investment, he said that various options were being considered to encourage both the local and foreign investors.
Speaking on the occasion, the LCCI President Zafar Iqbal Chudhry stressed the need for direct market access to United States of America and the European Union. He said that it was good omen that the EU had expressed a willingness to discuss free trade agreement with Pakistan.
The LCCI President also urged the Federal Secretary to seek the foreign expertise in the small hydro units and alternative energy units, as Pakistan urgently needs to develop and upgrade this sector.
He informed the Federal Secretary about the formation of Pakistan Halal Products Development Board under the banner of the LCCI and sought his support to get the Board operational in the shortest possible time.
The LCCI President said that the establishment of Halal Board would help Pakistan get recognition in global Halal arena while its key objectives are to assist and facilitate the development of Halal Industry and processes in the country. He said it was high time for Pakistans economy to get a boost by recognizing its own strengths as well as using the Power of Halal that has created a brand new Global Halal Economy in the world today. He hoped that the Ministry of Commerce would extend financial assistance to the Halal Board for the sake of economy of the country.