TDAP shifts focus towards non-traditional markets
Says policy meant to reverse declining trend of exports
PHOTO: REUTERS
FAISALABAD:
Trade Development Authority of Pakistan (TDAP) is focusing on non-traditional markets to increase Pakistan’s exports, said its secretary, Inamullah Khan.
Efforts are under way to create strong linkages between Pakistani and foreign businesses for this purpose, he said.
“Increasing exports is essential for improving the economy and TDAP, in consort with different stakeholders, is making strenuous efforts to achieve this cherished objective,” he added.
Terming GSP plus a turning point, he said that Pakistani exports to EU have increased phenomenally. While conceding that the country’s exports have seen an overall decline, he said that exploring non-traditional markets and focusing on export of non-traditional products were meant to mitigate this trend.
Historically, Pakistan’s major export destinations have been United States and European Union. A similar lack of diversification is seen in the range of products the country exports with textile related products making up around 80% of exports.
High energy prices and competition from other Asian countries have reduced demand for Pakistani textiles which has resulted in a sharp decline in overall export value.
Pakistan Textile Exporters Association (PTEA) Chairman Ajmal Farooq reiterating this point suggested it was high time that African and South American markets are explored for their untapped potential as Pakistani export destinations.
Stressing the importance of trade missions, he said that they should transmit information about market conditions, import and export rules and regulations, business practices and potential customers from their destination countries.
“Pakistani economy is based on cotton and textile exports are the main source of generating foreign exchange for the country. Sector specific single country exhibitions should be organized to attract foreign buyers and for promotion of Pakistani items in the world,” he suggested.
Highlighting B2B interaction as a key tool in trade promotion, he also suggested frequent exchange of trade delegations with foreign countries to explore available opportunities.
Talking about the Expo Pakistan Fair, he stressed on searching for and inviting interested companies to reap maximum benefits and achieve visible results from it, rather than conducting a free for all affair for marketing purposes alone.
Published in The Express Tribune, June 14th, 2017.
Trade Development Authority of Pakistan (TDAP) is focusing on non-traditional markets to increase Pakistan’s exports, said its secretary, Inamullah Khan.
Efforts are under way to create strong linkages between Pakistani and foreign businesses for this purpose, he said.
“Increasing exports is essential for improving the economy and TDAP, in consort with different stakeholders, is making strenuous efforts to achieve this cherished objective,” he added.
Terming GSP plus a turning point, he said that Pakistani exports to EU have increased phenomenally. While conceding that the country’s exports have seen an overall decline, he said that exploring non-traditional markets and focusing on export of non-traditional products were meant to mitigate this trend.
Historically, Pakistan’s major export destinations have been United States and European Union. A similar lack of diversification is seen in the range of products the country exports with textile related products making up around 80% of exports.
High energy prices and competition from other Asian countries have reduced demand for Pakistani textiles which has resulted in a sharp decline in overall export value.
Pakistan Textile Exporters Association (PTEA) Chairman Ajmal Farooq reiterating this point suggested it was high time that African and South American markets are explored for their untapped potential as Pakistani export destinations.
Stressing the importance of trade missions, he said that they should transmit information about market conditions, import and export rules and regulations, business practices and potential customers from their destination countries.
“Pakistani economy is based on cotton and textile exports are the main source of generating foreign exchange for the country. Sector specific single country exhibitions should be organized to attract foreign buyers and for promotion of Pakistani items in the world,” he suggested.
Highlighting B2B interaction as a key tool in trade promotion, he also suggested frequent exchange of trade delegations with foreign countries to explore available opportunities.
Talking about the Expo Pakistan Fair, he stressed on searching for and inviting interested companies to reap maximum benefits and achieve visible results from it, rather than conducting a free for all affair for marketing purposes alone.
Published in The Express Tribune, June 14th, 2017.