2011 will be year of exports: Amin Fahim

Commerce minister says that with increased focus on regional trade, 2011 will be good for exports from Pakistan.

ISLAMABAD: Federal Commerce Minister Makhdoom Amin Fahim on Thursday said that the year 2011 will be the year of exports for Pakistan.

The commerce minister was speaking at a press conference in Islamabad where he said that with a special focus on regional trade, this year would be good for Pakistan’s exports.

He said that exports in the first six months of the current fiscal year had already increased by 21 per cent as compared to last year, with the share of textiles reaching 25 per cent.

Fahim said that the new Afghanistan-Pakistan Transit Trade Agreement, to be formally implemented on February 12, will give Pakistan access to over 17 routes for trade with central Asian countries.

Officials of the ministry of commerce have asserted that access to Central Asian states will increase the volume of exports to these countries by $1 billion.

To ensure effectiveness and proper implementation of the transit trade agreement, the Afghanistan-Pakistan Transit Trade Coordination Authority (APTTCA) is also being set up along with arbitration tribunals to mediate and solve any possible conflicts between the two countries.

The commerce minister said that trade with China will increase, adding that a list of 22-23 items was being prepared for value-added exports.

Fahim said that the US and European Union were likely to give Paksitani products duty free access to their markets in the near future.

It was announced that the government will also add eight more items to the list of importable items from India after approval is granted from the Economic Coordination Council (ECC).