ISLAMABAD” Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood expressed the hope that by the last fiscal year 2023 of the current government, country’s exports would reach at $50 billion by following the policy of trade diversification in potential trade sectors and markets.
Export diversification, focus on non-traditional sectors and increasing exports to new markets, including the African market, would not only enhance the volume of the country’s exports, but would also help to achieve the export targets, the adviser told this during an exclusive interview with news agency.
‘Make in Pakistan’ is the government’s top priority trade policy, which aimed to introduce Pakistan’s traditional and non-traditional export sectors and local products in the international trade market.
The adviser said that now the export of mobile and motorcycle from Pakistan would be started within the same trade policy.
He said the export of these two products to the global market would usher an era of exporting engineering products from the country.
He said that at present, the share of engineering goods exports in the global trade market was 51 percent.
He said that Pakistan now wanted to make a name for itself in the world in non-traditional sectors, including engineering and pharmaceuticals.
He informed the recently local Karachi based electrical and electronics goods company ‘INOVI TELECOM (PVT) LIMITED has just exported the first consignment of 5,500 “Made in Pakistan” 4G mobile phones to the ‘Middle East’.
Razak Dawood said that this would be the beginning of an era of high value-added exports from Pakistan.
He said that this also marks the beginning of product diversification from our traditional to nontraditional sectors.
“I urge other mobile manufacturers in Pakistan to emulate this example and aggressively export their products,” he said.
The adviser said that in the recent past, when the United States, Secretary of States for commerce visited Pakistan, he had identified in his trade facilitation scheme Generalized System of Preferences (GSP) a number of traditional trade products in which Pakistan had not yet shipped goods to the US trade market.
He added the US, GSP program provides nonreciprocal, duty-free tariff treatment to certain products imported to the United States from designated Beneficiary Developing Countries (BDCs).
Most of these items came from Pakistan’s traditional commercial products, including textiles, which were now being worked on diligently.
“Geographical trade diversification and search for new markets will further increase our exports,” he said.
