Traders see 10% increase in exports in FY12

Exporters asked to increase trade with India.

KARACHI:

In a stakeholders’ consultative meeting held with Federal Commerce Secretary Zafar Mahmood at the Trade Development Authority of Pakistan (TDAP) on Monday, prominent exporters and representatives of trade bodies said up to 10 per cent increase in overall export value was expected in financial year 2011-12.

Representatives of various trade bodies, including textiles and clothing, agriculture, leather, mines and minerals, gems and jewellery, information technology and services, participated in the meeting.

Mahmood encouraged exporters to have more trade with India and said the Ministry of Commerce was trying to get 72 items approved for export to the European Union besides attempting to get Generalised System of Preferences (GSP) Plus status for Pakistan.

GSP is a preferential tariff system extended by developed countries to developing countries. It involves reduced tariffs or duty-free entry of eligible products exported by beneficiary countries to the markets of developed nations.

TDAP Chief Executive Tariq Puri said the business community should focus on regional markets, especially China, Japan, Vietnam, Malaysia and Indonesia. He said exporters should go for value-added products to fetch good prices, adding the commerce ministry and TDAP would help exporters market their value-added products through trade officers.

Puri said TDAP had accelerated the pace of work on the Dazzle Park near Karachi airport to boost export of gems and jewellery.

Mahmood and Puri assured the exporters that effective inter-ministerial coordination would resolve any issues that hampered exports, especially with regard to the Federal Board of Revenue.





Published in The Express Tribune, August 9^th, 2011.