ISLAMABAD: The Ministry of Commerce has finalised new Strategic Trade Policy Framework 2015-18 and would be announced soon after the approval of the prime minister, a senior official said.
He said that under the new strategic trade policy framework 2015-18, the exports of the country would be enhanced to $35 billion by the end of the year 2018. “Every year around US $4 billion would be added to the exports,” he remarked.
Highlighting some of the main focus of the policy, the official said that under the policy, incentives would be given to the exporters besides providing them soft term loans for the purchase of technology for products upgradation and value addition to make the export oriented industry competitive in the international markets.
“We, under the new trade policy will improve the trade diplomacy besides signing free trade agreements and preferential trade agreements after identifying new markets abroad for the Pakistani exporters and for their products”, he remarked. He added that old FTAs and PTAs would be reviewed and improved for the benefits of Pakistani exporters and their products.
The official said that the Commerce Ministry and its subordinate organizations including Trade Development Authority of Pakistan (TDAP), Domestic Commerce Wing and Trade Dispute Resolution organization would further be strengthened for the benefit of the country’s exports and facilitate the exporters.
He said that carry forward policies of the previous trade policy would be implemented including the start of operations of EXIM Bank (Pakistan) for the support of the exporters and propel the country’s exports. He said Drawback of Local Taxes and Levies (DLTL) would also looked into in the new trade policy.
