ISLAMABAD: Pakistan’s exporters are set to gain a competitive edge in the US market after the government successfully negotiated to get reciprocal tariff reduced from 29% to 19%, the lowest in the region providing Pakistan an opportunity to boost exports to the United States.
The breakthrough was discussed in a meeting on ‘US Reciprocal Tariffs’ chaired by Federal Minister for Commerce Jam Kamal Khan, said a release issued here on Tuesday.
The meeting was also attended by Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan, Coordinator to the Prime Minister on Commerce Rana Ihsaan Afzal, Secretary Commerce Jawad Paul, senior officers of Commerce Division and Industries and Production Division, and over 30 leading exporters and SMEs from various sectors including apparel and textiles, rice, salt, surgical goods, sports goods, electronics, food and agriculture, leather, and more.
The industry congratulated the government on securing what industry leaders called one of Pakistan’s most strategic trade wins in recent years over its regional competitors.
Jam Kamal Khan said that, on the directions of the Prime Minister, exporter’s feedback on the opportunities provided by the tariff reduction necessitates charting a way forward to avail this opportunity and boost exports.
He appreciated the efforts of the Finance Minister and Secretary Commerce, as well as the support extended by the private sector in developing a comprehensive strategy to achieve this milestone.
SAPM Haroon Akhtar underscored Pakistan’s regional advantage and shared that the Government is committed to extend maximum support to the industry to untap business opportunities arising out of the current circumstances.
Industry representatives, while appreciating the government’s efforts in trade diplomacy, urged the government for favourable and predictable policy support aiming towards optimizing cost of manufacturing and access to the inputs to materialize the future business opportunities.
The Commerce Minister pledged the government’s dedication to export-driven policies, encompassing both immediate support measures and sustained long-term strategies.
He emphasized that through enhanced collaboration and decisive actions, Pakistan’s export industries could achieve significant growth.
All recommendations from the exporters, he added, would be submitted to the Prime Minister for consideration.
The meeting concluded with a shared resolve to actively enhance Pakistan’s export footprint in the United States, turning this opportunity into a sustained national advantage for socio-economic development of the country.
