Priority sectors export strategy on cards
Plan will help Pakistan achieve trade growth ambition
PHOTO: FILE
ISLAMABAD:
The Ministry of Commerce and the Trade Development Authority of Pakistan (TDAP) are developing a coherent and comprehensive National Priority Sectors Export Strategy (NPSES) for Pakistan to achieve its trade growth ambition.
The commerce ministry and the TDAP recently conducted value chain consultations on priority sectors in the context of the Strategic Trade Policy Framework, said a statement issued by the British embassy in Islamabad.
During the consultations, high-level public and private sector representatives agreed on a strategic vision for Pakistan’s trade growth, under the title “Pakistan to become a dynamic and efficient domestic market and a globally competitive export-driven economy”.
Senator Saleem Mandviwalla raised the issue that exports had remained stagnant at 2013 level of $24bn in FY21. AFP/File
ISLAMABAD: The Senate Standing Committee on Commerce has asked the Ministry of Commerce to explain reasons for stagnant export proceeds from the country in the last decade with Pakistan also lagging behind in the region.
The committee chaired by Senator Zeeshan Khanzada on Monday showed its concerns over the low exports and sought reasons from the commerce ministry in the next meeting.
Senator Saleem Mandviwalla raised the issue that exports had remained stagnant at 2013 level of $24bn in FY21. “We are also lagging behind Bangladesh and Vietnam having annual export earnings of $50bn and $100bn, respectively,” he added.
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Commerce ministry sets $26b export target for next 3 years
Dawood says regional trade will play a huge role in enhancing connectivity with Central Asian states
APP
December 21, 2020
ISLAMABAD:
Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood said on Sunday that the Ministry of Commerce was determined to achieve $26 billion export target in next three years by exploring new trade markets in the world.
Trade diversification, regional trade integration through Gwadar Port and exploring new markets such as Africa region, North and South America and enhancing the production of engineering goods for increasing exports are on the main agenda of the government, the adviser told APP in an exclusive interview.