He hoped that Safta would be in place from January 1, 2006 and would prove as an effective instrument to push up trade and strengthen economic ties in the region.
Addressing a press conference here, the minister focused on three main areas impeding trade with other countries, Pakistan's half-yearly exports/imports performance, exclusion of super basmati rice from abatement list by the European Commission and the Government of Pakistan's strategy for reversal to keep on enjoying the concession and looming anti-dumping duty on bedlinen.
He said Pakistan's exports have increased by 13.1 percent during the first half of the current fiscal over the corresponding period of the last year. Imports showed increase of 14.2 percent during this period. He hoped that the upward trend would continue in the second half of 2003-04 to make the target achievable.
On Safta Humayun said the committee of experts (CoEs) of the Saarc member countries would meet to workout modalities to put Safta into place by January 1, 2006.
The CoEs would present their recommendations to the Council of Saarc ministers to make the agreement a reality within stipulated period.
The minister ruled out any possibility of setback to Pakistan in the post-Safta scenario saying, "We have taken into account all the aspects of Safta before becoming party to it and reached to the conclusion that the development was in line with the Pakistan's policy of signing preferential and free trade agreements with its trade partners.
He termed Pakistan's current trade volume with Saarc countries, which counts only 2.2 percent of its total annual turnover, very nominal and hoped that Safta would improve trade volume to a satisfactory level among the member countries.
Humayun read out several clauses of the Safta to the media men, which specify procedure and schedule to cut down tariff for least developed countries (LDCs) and developed countries.
The clauses said that developed countries of Saarc - Pakistan, India and Sri Lanka and LDCs - Maldives, Bangladesh, Nepal and Bhutan - would bring down their tariff to 20 percent and 30 percent in the first phase by January 2008. In the second phase, they would further lower down tariff to zero and 5 percent by 2013, and 2015, respectively.
On the issue of exclusion of Pakistani super basmati rice from the abatement list by the European Commission, the minister said, Pakistan's produce qualified for the concession in all terms.
He rejected the allegation that Pakistani super basmati rice was being mixed by the exporters saying not a single case of fraud was ever reported by the EC since 1996 when the produce was granted concession in duty by including it in the abatement list.
The minister, who was visibly concerned over the EC decision of withdrawing the concession for Pakistani rice exporters, declared that the Government of Pakistan would make all-out efforts to convince the EU authorities that Pakistan's produce deserved special treatment in duty.
He said that Pakistan had already moved diplomatic channel to present its case before the EC forcefully and Commerce Secretary Kemal Afsar was currently visiting the European Union capitals to muster support for Pakistan.
He also hinted at filing a petition with the European Commission for review of the case.
On the issue of EU move for anti-dumping duty on export of Pakistan's bedlinen, the minister said, the government was in touch with the exporters and they would be provided all-out facility to fight their case at Brussels.