SMEDA identifies 45 high-potential export items
Stresses reducing trade deficit with China and other countries
Representational image PHOTO: ONLINE
LAHORE:
An exploratory study conducted by the Small and Medium Enterprises Development Authority (SMEDA) has identified 45 products with high potential for exports under the China-Pakistan Economic Corridor (CPEC), a press release said on Thursday.
According to the study, 13 items, out of the 45 products, fall in the category of high value exports (HVE), 15 in medium value exports (MVE) and 17 in the low value exports (LVE) category. The 13 products of HVE category include meat, fish, mangoes, chromium ores and concentrates and medical instruments among others.
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Commenting on the study, SMEDA CEO Sher Ayub Khan said that the given trade potential has been identified by adopting a three-pronged approach, which includes; detailed analysis of Pakistan’s trade with China, focus group discussions and stakeholders’ input through a short survey. He hoped that the study will help Pakistani businesses, especially SMEs, to strengthen economic integration with the world’s largest trading nation, China.
Khan said that during the past few years, Pakistan’s imports from China have increased disproportionately compared to Pakistan’s exports to China. He said that China imported a total of 5,578 types of products from around the world in 2015.
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“Therefore, Pakistan can easily increase its exports to China through mutual understanding and consent,” the SMEDA CEO said, adding that Pakistan’s global trade share, under CPEC, will increase to an optimal level.
“But, we will have to adopt an approach which can lead to a reduction in the prevalent trade deficit,” he said, maintaining that a good starting point in this regard had been set by the SMEDA through study of the export supply capacity and import demand ability of the country by identifying product lines and trends.
Published in The Express Tribune, December 15th, 2017.
An exploratory study conducted by the Small and Medium Enterprises Development Authority (SMEDA) has identified 45 products with high potential for exports under the China-Pakistan Economic Corridor (CPEC), a press release said on Thursday.
According to the study, 13 items, out of the 45 products, fall in the category of high value exports (HVE), 15 in medium value exports (MVE) and 17 in the low value exports (LVE) category. The 13 products of HVE category include meat, fish, mangoes, chromium ores and concentrates and medical instruments among others.
SMEDA for boosting sports industry
Commenting on the study, SMEDA CEO Sher Ayub Khan said that the given trade potential has been identified by adopting a three-pronged approach, which includes; detailed analysis of Pakistan’s trade with China, focus group discussions and stakeholders’ input through a short survey. He hoped that the study will help Pakistani businesses, especially SMEs, to strengthen economic integration with the world’s largest trading nation, China.
Khan said that during the past few years, Pakistan’s imports from China have increased disproportionately compared to Pakistan’s exports to China. He said that China imported a total of 5,578 types of products from around the world in 2015.
SMEDA to set up fruit, vegetable processing centres
“Therefore, Pakistan can easily increase its exports to China through mutual understanding and consent,” the SMEDA CEO said, adding that Pakistan’s global trade share, under CPEC, will increase to an optimal level.
“But, we will have to adopt an approach which can lead to a reduction in the prevalent trade deficit,” he said, maintaining that a good starting point in this regard had been set by the SMEDA through study of the export supply capacity and import demand ability of the country by identifying product lines and trends.
Published in The Express Tribune, December 15th, 2017.