The government is keen to pursue the Look Africa policy aimed at exploring new markets and diversification of export products, said Adviser to Prime Minister on Commerce Abdul Razak Dawood.
Speaking at the Virtual International Trade Forum, organised by the Rawalpindi Chamber of Commerce and Industry (RCCI), the adviser stressed that the government was giving many incentives to Pakistan’s exporters.
Regulatory duty, customs duty and tariffs on many products have been reduced to boost trade with African countries. Now, Pakistan has started exporting microwave ovens and refrigerators to African nations.
“The coronavirus pandemic has caused many problems but Pakistan’s exports have declined by only 6% while in other countries the numbers are in double digits,” the adviser said.
Ministry of Foreign Affairs Additional Secretary Ali Javed said “Pakistan’s ranking has improved in business facilitation under the ease of doing business (EODB).”
He emphasised the need for improving the image of Pakistan, liaising with the industry and academia, promoting new sectors and products. “The fastest growing economies in the world include five African countries,” he added.
Speaking on the occasion, RCCI President Saboor Malik said the purpose of the trade forum was to make the business community aware of trade and export opportunities in African markets.
He suggested that there was a need to focus on the country-specific policy and guidelines should be prepared for African destinations as every country had its own priorities for exports and imports.
Published in The Express Tribune, July 23rd, 2020.
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