Minister charts course for export growth
Year-on-year exports to China witnessed an impressive growth of 68.57%. PHOTO: REUTERS
Federal Commerce Minister Jam Kamal Khan reiterated the government’s commitment to facilitating trade, industry, and export diversification on Monday. He stated that measures were being devised to promote both local and export-oriented industries.
Addressing a media briefing at the Trade Development Authority of Pakistan (TDAP), the commerce minister highlighted the government’s determination to bring institutional and structural reforms, resolve energy and tariff issues, enhance regional connectivity, and diversify exports to ensure sustainable growth and stabilise the economy.
Kamal mentioned that Prime Minister Shehbaz Sharif has conducted several meetings with relevant ministries and stakeholders to address various challenges faced by businesses and industries in Pakistan. He highlighted the formation of high-level committees to address energy pricing, governance reforms, and coordination among ministries and stakeholders.
Read ‘Focus on innovation & efficacy needed to promote exports’
Regarding export diversification initiatives, the minister noted positive outcomes from events like the Food and Agriculture exhibition and TDAP’s ‘Pakistan Trade Portal.’ He mentioned an expected surge in the export volume of the food and agriculture sectors, exceeding $7 billion in the current financial year, driven by increased exports of rice, maize, sesame seed, and other agricultural products.
The minister stressed the importance of focusing on all sectors, not just a single one, mentioning the struggling textile sector and efforts being made for its development.
He highlighted ongoing negotiations with Saudi Arabia, anticipating progress in agriculture, renewable energy, petroleum, mining, and information technology sectors. He mentioned advanced negotiations with GCC countries and Pakistan’s participation in the International Trade Exhibition in Japan in 2025.
Published in The Express Tribune, May 14th, 2024.
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