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Pakistan, Nepal To Sign FTA

by Mary Swire, Tax-News.com, Hong Kong

27 July 2010


It is hoped that a free trade agreement (FTA) between Pakistan and Nepal will be signed at the next Joint Economic Commission meeting between the two countries, which is planned for October this year.

It was reported that the Pakistan embassy in Kathmandu had sent a message to the Ministry of Commerce in Islamabad confirming that the Nepalese government wanted the FTA to be signed later this year. It is thought that a joint official technical group is presently formulating its terms.

The planned FTA was given more impetus by a short stop-over in Nepal by Pakistan’s Prime Minister on his way to the South Asian Association for Regional Cooperation meeting in Bhutan in April.

Whilst Pakistan and Nepal have signed the South Asia Free Trade Agreement, and would be members of a South Asian Economic Union, trade between the two countries is still minimal. While it could be expected that a bilateral FTA would produce increased commerce in both directions, some observers have, however, expressed their doubts as Nepal is landlocked and all of its trade is currently transported through India.

TAGS: Pakistan | tax | free trade agreement (FTA) | law | tariffs | agreements | trade | Nepal

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