ISLAMABAD, Pakistan: Minister for Commerce Engineer Khurram Dastgir Khan on Monday said that Pakistan being member of World Trade Organization (WTO) has extended Most Favored Nation (MFN) to all WTO countries except for India and Israel.
Replying to a question in the National Assembly, he said the extension of WTO is a reciprocal measure therefore the other 163 WTO members have extended MFN status to Pakistan.
In the case of MFN treatment Pakistan enjoys non-discriminatory market access to these countries, he added.
He said in 2015-16 the country’s overall trade was US$ 62.324 billion out of which Pakistan’s export were US$21.98 billion and imports were US$ 40.34 billion.
To another question the minister said that United States of America (USA) is the largest export destination for Pakistani goods.
Total exports for the year 2015-16 were US$ 3.5 billion whereas bilateral trade for the same period was US$ 5.3 billion, he added.
He said on June 25, 2003 Pakistan and USA had signed Trade and Investment Framework Agreement (TIFA), under which both countries meet and discusses issues of mutual interest with objective of improving cooperation and enhancing opportunities for trade and investment.
