Experts stress on trade for post-Covid recovery

Suggest devising policies to facilitate trade, exporters


Our Correspondent September 29, 2021
Vendors have set up stalls of shoes on a street in Rawalpindi, which according to local traders is possible on payment of grati-fication to RMC officials. PHOTO: EXPRESS

LAHORE:

Industry experts believe that trade could play a crucial role in post Covid-19 economic recovery, thus devising policies to facilitate trade was of paramount importance.

During a webinar on ‘Trade essential for post Covid economic recovery’, organised by International Trade Centre (ITC) in collaboration with the Sustainable Development Policy Institute, Federal Board of Revenue (FBR) Exports Policy Customs Secretary Ihsanullah Shah lamented that majority of the enterprises were struggling to survive due to post pandemic trade crisis.

He said that the government had taken various steps to pull the exporters out of this grim situation, including a blanket exemption and rebate rates enhancement on almost 300 items comprising surgical, sports, textile goods etc.

ITC Trade Facilitation Senior Policy Adviser Mohammad Saeed highlighted that Covid-19 had disrupted the global supply and demand, resulting in economic crisis.

“Thus, trade policy is part of the solution,” he said, adding that trade facilitation has emerged as an important aspect “whether it is access to the vaccine or access to production processes related to imports and exports”.

Published in The Express Tribune, September 29th, 2021.

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