More Good Economic News

More good news for the struggling – but improving – economy. PM Gilani met with his Spanish counterpart, Spanish Prime Minister Jose Luis Rodriguez Zapatero, and secured Pakistan greater access to EU markets.

Prime Minister Gilani said Pakistan desired a strong multifaceted relationship with the EU and provision of preferential market access to the EU, as it would help stabilise Pakistan’s economy, which had suffered enormously as a result of the country’s role as a frontline state against terrorism.

Earlier, the two leaders witnessed the inking of a Framework of Cooperation on Developing Comprehensive Partnership and Avoidance of Double Taxation pact.

Gilani said by signing the Framework of Cooperation on Developing Comprehensive Partnership the two sides had ushered in a new era of fortifying cooperative ties between the two countries.

He said the framework spanned diverse fields form trade and finance to science and technology, from defence and security to cultural and people-to-people contacts.

They also signed a deal to avoid double taxation, which Zapatero said “opens up a whole array of economic relations in the future.”

This important agreement will help alleviate pressure on foreign direct investment in Pakistan, while also providing easier ability for exports to flow into the coveted EU market. This agreement should also help to improve the already growing GDP.

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