Pakistan and Singapore expecting greater expansion of mutual trade

Geneva - 14 July 2008

With the taking over of Pakistan's deep sea port at Gwadar by the 'Port of Singapore Authority' (PSA) last year, the two nations are expecting greater expansion of mutual trade with complementing investment opportunities in Gwadar free trade zone", stated Dr. Zafar Qadir, Pakistan's Deputy Permanent Representative to the WTO. The statement was made during the 4-yearly trade policy review of Singapore at the World trade organisation. The two sides are currently negotiating bilateral free trade deal, he added.

Commenting on its trade policy instruments and measures, Pakistan appreciated Singapore's zero tariff regime on most tariff lines, 30 % of which are still not bound. Pakistan suggested Singapore to consider binding these tariffs in order to match correctly with its otherwise glittering face value. Full text of the statement made by Pakistan is available here.