Pakistan to explore new trade opportunities with New Zealand

[Salman]

Pakistan to explore new trade opportunities with New Zealand


ISLAMABAD: Pakistan has expressed its desire to benefit from New Zealand’s expertise in four areas - agriculture and food processing (especially dairy), technical-level education in food processing, animal health, post-harvest techniques and dairy, and renewable energy sources.

After a gap of 22 years, the inaugural session of the Pakistan-New Zealand Joint Trade Committee (JTC) was held in Wellington, New Zealand. Pakistan’s delegation was led by Commerce Secretary Zafar Mahmood. New Zealand side was headed by Ministry of Foreign Affairs and Trade (MFAT) deputy secretary.

During the meeting both sides reviewed the entire gamut of bilateral trade and ways and means to further enhance the economic cooperation measures to establish instruction linkages between Pakistan and New Zealand, especially in the field of agriculture value chain and dairy industry were agreed upon.

Pakistan also expressed a desire to export mangoes to New Zealand.

The commerce secretary conveyed Pakistan’s expression of interest to initiate negotiations on Free Trade Agreement (FTA), with New Zealand.

The commerce secretary said that Pakistan will send a business delegation to New Zealand in November 2012. He also invited New Zealand business delegation to Pakistan. The meeting held under the Pakistan – New Zealand trade agreement initiated in 1990, is expressed to provide a new direction to bilateral trade to achieve its full potential. At present, the total volume of Pakistan-New Zealand trade is $107 million and the balance of trade is in favour of New Zealand.