The 7th Session of Pakistan
Australia Joint Trade Committee was held at Canberra, Australia on 4th
of December 2017. The Pakistan delegation was led by Mr. Mohammad Younus Dagha,
Secretary Ministry of Commerce, Government of Pakistan and Australian side was
led by Ms Kathy Klugman, First Assistant-Secretary, Department of Foreign
Affairs and Trade. Wide ranging issues including market access to Pakistan
goods, trade and investment opportunities in Pakistan and business visa were
taken up by during the meeting. The meeting was held in a very friendly and
cordial manner. Both sides agreed that current level of trade and investment
between the two countries does not commensurate with the potential and
underlined the need to find ways and means to enhance trade, says a press
release received here today from Australia.
During his opening remarks, the Secretary
Commerce thanked the Australian side for their hospitality and expressed his
satisfaction over the increasing trends in bilateral trade. The Secretary
Commerce made a very effective presentation on trade and investment
opportunities in Pakistan emerging in the wake of China-Pakistan Economic
Corridor. The presentation highlighted that Pakistani economy has been growing
at a fast pace and the macroeconomic indicators and inward investment into the
country provide positive signals for foreign investors.
With regard to bilateral trade between
Australia and Pakistan, the Secretary Commerce stated that Pakistan exports to
Australia have not achieved the potential due to tariff differential faced by Pakistani
exporters. He argued that products originating from Bangladesh are subject to
zero duty because of it being a Least Developing Country and at the same time
China enjoys zero duty because of a Free Trade Agreement with Australia. He
underscored the need for a level playing for Pakistani products in Australian
market and suggested that Pakistan should either be accorded Developing Country
Status with zero tariffs on its items of prime export interest or both sides
should strive for a Free Trade Agreement. As an interim measure he suggested
that an Early Harvest Program may be negotiated between the two sides and
exchange concessions on priority items.
The Australian side acknowledged that
Pakistani goods are facing higher tariffs but explained that they were in the
process of phasing out their MFN tariffs, however they agreed to consider
Pakistan’s proposal of creating a level playing field either through a formal
arrangement or may be through change of category in the Developing Country
tariffs of the Australian System of Tariff Preferences.
