As per reports of World Economic Situation and Prospects 2017 Pakistan growth is surging nearly five percent. South Asia’s economic outlook remains favourable, with most countries benefiting from low oil prices. Regional GDP growth is expected to accelerate from 6.1 per cent in 2015 to 6.6 and 6.8 per cent in 2016 and 2017, respectively, owing to robust private consumption, strengthening investment demand and gradual progress on domestic policy reforms. Inflation is projected to remain relatively tame, reflecting subdued commodity prices and lower pressures from supply-side bottlenecks. This has increased monetary policy space, with prospects for further easing in some economies, including India. In contrast, fiscal policies remain tight or under consolidation in most countries, and deficits will remain relatively high, particularly in Bangladesh, Pakistan and Sri Lanka. Overall, the positive outlook will enable further gradual progress on poverty reduction.
Prime Minister Nawaz Sharif on Wednesday met Japanese Ambassador Takashi Kurai and called for initiation of negotiations on the bilateral Free Trade Agreement.
The PM met with the Japanese ambassador at the PM House today.
PM Nawaz said Japan may also consider a three to four-year exception for Pakistani textiles under its Temporary Tariff Measures to bring Pakistan at par with its competitors, which enjoy free access to the Japanese market.
Pakistan considers Japan a close friend and reliable economic partner, said the PM.
He said law and order situation in the country has significantly improved and expressed hope Japan would consider Pakistan’s inclusion in its travel advisory list.
Pakistan looked forward to greater levels of cooperation with Japan in trade investment infrastructure and energy, he further said to the Japanese ambassador.
The Japanese ambassador said Japan gives importance to investment, security, infrastructure and business friendly environment.The Ambassador of Japan also appreciated Pakistan’s economic growth.Geo News