Trade revival: TDAP confident of govt economic policies

Stresses exploring full potential in SMEs to increase trade revenues.

LAHORE: Trade Development Authority of Pakistan (TDAP), specifically the Lahore chapter, is optimistic about the current government’s focus to revive economic activities in Punjab as much as possible.

“Trade is the only way for us to move forward; without enhancing our trade relations we might not achieve our economic goals”, said Sher Afghan Khan, Director General TDAP Lahore while briefing members of the Lahore Economic Journalists Association.  To enhance the trade share, we have to focus on small and medium enterprises, as it accounts the largest sector of our economy, he added.

Total exports from July 2013 to January 2014 grew by 4.64% and reached $14.7 billion, according to statistics provided by TDAP. Textile and clothing exports grew by 7.59%, agricultural and food by 5.58%, engineering sector by 18.37% whereas a decline of 29% was witnessed in exports of mineral and metal sector was recorded.

According to Khan, the economic zones surrounding around Grand Trunk road and national highways need to be promoted. Cities like Gujranwala, Sialkot and Faisalabad are just like a golden triangle, where a huge number of small and medium enterprises (SMEs) are operating, Khan said.

He believes that these areas need to be promoted to their fullest to reach full potential and trade activities. These areas are flooded with SMEs preparing textiles, sports and different engineering products and the world previously recognise them but due to change in global protocols of doing business the demand of such products is on a decline like different sports products.

Bilateral trade between Pakistan and India is subject which has to be implemented via TDAP’s Lahore chapter and the officials are keen for such trade relations. Despite huge infrastructural developments in Punjab and especially in Lahore, many TDAP officials believe that the current infrastructure is not enough to support conferences and exhibitions of international standards. By infrastructure, they mean lack of luxury hotels in Lahore where delegations could stay. Though many groups are now investing in the hotel business to bridge the gap, but a lot more has to be done.

Published in The Express Tribune, March 13^th, 2014.

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