Export market: TDAP urged to develop China-focused strategy

Progress on FTA, economic corridor on track, claim business officials.

LAHORE: Pakistan’s exports can make a major breakthrough by evolving an exclusive export development strategy focusing on China, said Shah Faisal Afridi, Pak-China Joint Chamber of Commerce and Industry (PCJCCI) president, while speaking to newly-appointed Trade Development Authority Pakistan (TDAP) CEO SM Munir.

There is a vast scope for export of Pakistani carpets, fruits, leather, textiles and gemstones as well as different kinds of minerals to be exported to China, said Afridi adding that the country had lately succeeded in penetrating the carpet market and hoped to showcase its popular brand of mangoes this year.

He underlined that both sides had recently-held negotiations on the second phase of the Free Trade Agreement (FTA) that would further help improve bilateral trade. Prominent Chinese businessmen, who visited last year, along with their premier have placed orders worth $450 million for import of different items from Pakistan, Afridi said. He urged the TDAP chief to ensure competitive prices, quality control and expansion of industrial base on sound footings in Pakistan to tap the vast Chinese market.

He drew attention of the new TDAP chief towards Prime Minister Nawaz Sharif’s first overseas trip in May last year to China, when eight agreements and Memorandums of Understanding were signed, including the most important one on Pakistan-China Economic Corridor.

He disclosed that both countries were working on a four-pronged strategy of road, optic fibre, energy pipelines and railway connectivity, along with setting up Special Economic Zones (SEZs) along with the corridor to jump-start economic activity.

The Chinese government was also encouraging the private sector to make maximum investment in energy and infrastructure development in Pakistan, he added.

“The coming months will see more progress towards the implementation of corridor-related projects,” PCJCCI president added. He reiterated to develop an exclusive strategy for boosting Pakistan’s exports to China that will help make a paradigm shift in export development of the country.

He was confident that TDAP would be able to set historical milestones in boosting country’s exports under Munir. He assured to extend the sincerest cooperation of his chamber as well.

Published in The Express Tribune, March 18^th, 2014.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.