ISLAMABAD: Federal Commerce Minister Khurram Dastagir Khan has said that the exports from Pakistan to India will be increased to $1 billion within a year, as made-up textiles products and readymade garments have great potential to make their way to Indian markets.
The minister said this while chairing a meeting with Pakistani counterparts of Pak India Business Council here on Tuesday. The delegation was headed by Yawar Ali Shah who briefed the minister on their recent visit to India and outcome of the meetings held with Indian business and trade stakeholders.
The minister was of the view that due to land route, Pakistan was the most favourite and cost-effective market for India in terms of importing raw material for their agriculture and textile products, a statement issued by the Ministry of Commerce here said. He was of the view that trade concessions to India could not be offered unilaterally. India also needs to extend access to Pakistani products with preferential duty regime, the minister added.
The minister also informed the delegation that the ministry has restructured National Tariff Commission (NTC) in line with the legal framework guided by the Supreme Court of Pakistan.
Earlier, the delegation was of the view that Indian food manufactures were looking for difference Pakistani agriculture products like Mango and Kinno in specific seasons. Also, they added, Pakistan agriculture products like green peas can be exported to India, as they run freezing plants at far less capacity of 200,000 tons.
The business interlocutors were of the view that trade with both countries should cooperate in promoting SME, agriculture, tourism & culture, research sectors, Basmati Rice branding issue and exchange of business groups visits.
Later, a delegation of Pakistan Commercial Exporters Association called on Minister for Commerce with an agenda to boost exports in Gems and Jewellery products.
Assuring full support to the business group, the minister said government shall move further ahead in increasing exports and soliciting resources until exports fraternity come forward and take initiatives and mobilize their resources.
The minister told the delegation that keeping in view the potential of exports of Khyber Pakhtunkhwa, the government has decided to allocate substantial budget in next fiscal to establishing multi-billion expo centre in Peshawar.
The Gem export products shall also be showcased by including them in Trade Development Authority of Pakistan (TDAP’s) exhibition calendar, the minister added.
