ISLAMABAD: The National Assembly Standing Committee on Commerce and Textile, has called for monitoring of the performance of the Pakistani trade officers appointed in different trade missions in ASEAN countries.
The mounting trade deficit has been a matter of concern both for the government and the Ministry of Commerce. The NA committee has directed relocation of trade missions to countries with higher demand of Pakistani products. ASEAN growth projection is revised from 4.8 percent to 5 percent while the growth prospects differ across the region.
This is why, the NA commerce panel recommended for inviting businessmen to share their diverse experience with the under training newly inducted Trade Officers and officers posted in trade missions abroad. The committee also recommended for expanding training facilities in trade to the private sector. While discussing the performance of Trade Officers in Pakistan’s Trade Missions abroad, NA panel directed for monitoring of trade officers and exploring potential markets for Pakistani products.
NA committee me here under the chairmanship of Siraj Muhammad Khan and was briefed about Pakistan’s trade and investment relations with Association of South East Asian Nations (ASEAN). The Committee was briefed that the ASEAN is geopolitical and economic organization encompassing 10 countries with vastly different stages of developing economies and all sharing immense growth potential.
The Committee was further apprised that ASEAN was a major global hub of manufacturing and trade with huge market worth over $ 2.6 trillion and collectively seventh largest economy in the world and third largest in Asia. The Committee was informed that currently Pakistan holds observer status: however, strategy of bilateral engagement with major ASEAN countries has been adopted in order to strengthen the case for full dialogue partnership.
Apprising about the current engagement of Pakistan with ASEAN member states, the Representative of Commerce Division informed that Pakistan had been trading partner with Malaysia, Indonesia, Thailand, Vietnam and Philippines and had been exporting cereals, textile articles, cotton, sea food, leather, machinery and other items whereas, palm oil, coffee, rubber, machinery, chemicals were major imports.
The committee expressed its satisfaction on the performance of Pakistan Institute of Trade and Development (PITAD). The Committee recommended for inviting businessmen to share their diverse experience with the under training newly inducted trade officers and officers posted in trade missions abroad. The committee also recommended for expanding training facilities in trade to the private sector.
