Islamabad:
The former Federal Minister of Caregroad Trade, Gohar Ejaz, has proposed that Pakistan and the United States begin negotiations for a Free Trade Agreement (FTA), which suggests that access to the open market and tariff reductions would be mutually beneficial.
In a statement, EJaz said that Pakistan could allow imports free of US taxes as part of a broader commercial agreement, while looking for cuts in rates and taxes taxes on Pakistani exports to the United States.
Just one day before the EJAZ Declaration, Trump imposed a base rate of 10% to almost all imports from the United States and raised the tariffs even more pronounced to key commercial partners, including a 29% tariff on Pakistani goods. He accused Islamabad of slapping 58% of tariffs on US products.
The former caregiver minister also pointed out that one of Washington’s main objections has been the high barriers of rates that Pakistan maintains in US products. “The United States has constantly complained that Pakistan does not allow their products to be free access to local markets,” he said.
