Afghan Transit Trade Pact to come into force on Feb 12: Fahim

Federal Minister of commerce Amin Fahim said that trade under Afghan Transit Trade Agreement would be started on February 12.

In a press conference in Islamabad, Amin Fahim said that as per the agreement, Afghanistan will be provided Pakistan land routes for trade with India and in return, Pakistan will get 17 Afghan routes for trade with Central Asia. He explained that India will not get any Pakistani routes as per the pact. He said that first meeting of Export Promotion and Development Board.

Pak says signed no trade pact with Afghanistan

ISLAMABAD: Afghanistan and Pakistan have not yet signed the transit trade agreement, latters Ministry of Commerce said in an explanation note issued Tuesday.

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Pak says signed no trade pact with Afghanistan

TBL rakes in Rs50m in opening weekend

MUMBAI: Debutant director Abhishek Sharma’s satire Tere Bin Laden has grossed over Rs 50 million in its opening weekend.

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TBL rakes in Rs50m in opening weekend

Zardari doesnt accept Khosas resignation

ISLAMABAD: Advisor to the Prime Minister Sardar Latif Khosa called on President Asif Ali Zardari at Aiwan-e-Sadr here on Tuesday and tendered his resignation as advisor.

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Zardari doesnt accept Khosas resignation

Pakistan denies signing Afghan trade pact

ISLAMABAD: Afghanistan and Pakistan have not yet signed the transit trade agreement, latters Ministry of Commerce said in an explanation note issued Tuesday.

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Pakistan denies signing Afghan trade pact

Forex reserves jump to record $16.77bn

KARACHI: Pakistan”s foreign exchange reserves rose to a record $16.77 billion in the week ending July 2, thanks to foreign inflows worth $750 million received during the week, the central bank said on Thursday.

The reserves stood at $15.83 billion the previous week.

“We received $470 million from the Asian Development Bank, $95 million from the World Bank and $185 million from USAID, which has pushed the reserves to a record level,” said Syed Wasimuddin, the State Bank of Pakistan”s (SBP) chief spokesman.

The previous record high was $16.45 billion, hit in October 2007, he said.

Reserves held by the SBP rose to $12.95 billion from $12.06 billion a week earlier, while those held by commercial banks edged up to $3.82 million from $3.77 billion, said Wasimuddin.

Pakistan denies Afghanistan transit for Indian trucks

ISLAMABAD: Pakistan on Wednesday has denied Afghanistan the transit for Indian trucks, which means that there still exist conflicts on trade agreement through border of two neighboring countries, Geo news reported.

Finance Ministry sources told Geo news the signing ceremony of Pak-Afghan transit trade draft has been postponed till the seventh round of the talks, giving rise to speculations that there have appeared the definite disagreements between two countries on some issues.

Afghanistan put forward a proposal of bilateral trade through providing transit to open trucks from India en-route Pakistan but owing to security reasons, Pakistani officials have denied transit to Indian trucks, sources said.

Pakistan has also refused to an Afghan proposal involving India-Afg trade through Pakistani airports, sources maintained.

Pak-Afghan Transit Trade Talks Today

ISLAMABAD: The fifth round of Pak-Afghan Transit Trade has begun in the federal capital.

Both the countries are mulling over removing stumbling blocks in achieving the trade agreement (ATTA) in the three-day negotiations.

Afghan deputy Trade Minister Adib Farhadi is heading his delegation; while, Federal Trade Secretary Zafar Mehmood is leading Pakistani side at the talks.

According to Trade Ministry sources, Afghanistan wants Pakistan to allow Indian products to be routed through Pakistan to Afghanistan. However, Pakistan demands to regularize the informal trade; but, Afghanistan is not willing, causing the deadlock in previous rounds of talks.

Besides, Pakistan demanded to stanch smuggling across Afghanistan, the sources added.

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Pak-Afghan Transit Trade Talks Today was first posted on December 19, 2009 at 12:16 pm.

Germany assures Pakistan for greater access to European markets

Germany has assured Pakistan to get bigger access to European markets while Prime Minister Yousaf Raza Gilani said relations with Germany have entered into a new era. He said that US drone attacks are counterproductive and are creating difficulties for Operation in Waziristan. In a joint press conference after the meeting with Germen Chancellor Angela Merkel, PM Gilani said that Germany is the biggest trade partner of Pakistan in the European Union.

He thanked the German government to support Pakistan on different issues including war on terror. Chancellor Merkel pointed to the long political and business cooperation between Pakistan and Germany over the decades and said the two sides “agreed to maintain a strategic political dialogue.” She also recalled their brief meeting in Beijing and said Gilani’s current visit will bolster the bilateral relations between the two countries. The two leaders also mentioned the inking of a new Bilateral Investment Treaty by their respective investment ministers and hoped the private sectors of the two countries would immensely benefit and boost the two-way trade. “The new investment protection agreement will lay a solid foundation for future between the two countries and enable her country to help Pakistan in energy, mutual investments, and technology transfer,” Merkel said. She said the new investment protection agreement will lay a solid foundation for future between the two countries and added that her country will help Pakistan in energy, mutual investments, and technology transfer.

The two leaders also agreed to further deepen and broaden their cooperation in multifaceted fields and to focus on expanding economic ties as a follow up of signing of new investment agreement.

Prime Minister Gilani said Germany being one of the largest economies of the European Union can assist Pakistan for greater access to its goods to the European markets. He said Pakistan desires improvement of trade and economic ties with Europe, and said Germany can play a key role in helping it with a Free Trade Agreement with the EU. Chancellor Merkel said the government will show constructive attitude and encourage the EU to promote these matters. The strategic importance of Pakistan is seen by all and other members of the EU are understood to have seen its importance.”

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Germany assures Pakistan for greater access to European markets was first posted on December 1, 2009 at 11:11 pm.