Trade Balance: Stress laid on export promotion

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has called on the government to take concrete measures in a bid to improve trade balance with China as Pakistan is facing a massive deficit of over $10 billion.

“The only way to bridge the shortfall is to promote exports to China,” it added, according to a statement. ICCI President Ahmed Hassan Moughal said at present, Pakistan faced an enormous trade deficit of over $37 billion with all its trading partners and one way to get rid of it was to search ways of expanding and diversifying exports.

“Pakistan is renegotiating the free trade agreement (FTA) with China,” he said. “The government should ensure that the revised FTA turns the trade balance in Pakistan’s favour.” He said China was the second largest importer in the world after the US.  

Published in The Express Tribune, November 6^th, 2018.

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