Businessmen demand removal of trade hurdles
AHL head of research noted that trade deficit declined 10.5% on a monthly basis, indicating a slight betterment on the external front. photo: file
Traders have stressed the need for taking pragmatic steps to remove hurdles in the way of regional trade, saying it is imperative to boost bilateral trade with the Central Asian Republics to enhance the country’s exports and earn huge foreign exchange for stabilising the national economy.
Pakistan was losing foreign exchange owing to impediments to regional trade, the traders and exporters said at a meeting of members of the Sarhad Chamber of Commerce and Industry and Women’s Chamber of Commerce and Industry, Peshawar with senior officials of the Trade Development Authority of Pakistan (TDAP) on Saturday.
Participants of the meeting mentioned that Pakistan’s trade deficit was widening owing to the failure to capture regional markets and the loss of foreign exchange in bilateral and regional trade.
They voiced fear that Pakistan would be economically bankrupt, if the regional market was not fully exploited, adding in that situation it would be completely impossible to stabilise businesses, trade and economy.
The businessmen demanded that the government should take realistic measures to remove the impediments, streamline trade with regional countries and ease the difficulties faced by the traders, especially exporters.
Speaking on the occasion, TDAP Director General Naseer Ahmad stressed that the government and its institutes were fully committed to facilitating and promoting regional trade.
In that regard, he added, the regional trade had been divided into three categories, which included the African region, Central Asian region and Asean region.
He announced that TDAP would organise a single-country exhibition in the Central Asian region in October and another single-country exhibition would be held in December.
The TDAP senior official invited the business community of Khyber-Pakhtunkhwa to participate in both the exhibitions.
Ahmad acknowledged the proposals of the chambers, particularly the suggestions of women entrepreneurs who called for organising training sessions for brand promotion, joint exhibitions and other priority areas.
He assured the trading community of resolving its problems, especially relating to regional trade in the light of its proposals.
Published in The Express Tribune, June 5th, 2022.
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