LAHORE: Trade between Pakistan and India has bright future as both the countries are willing to enhance bilateral trade. Nevertheless, the government is vigilant of the fact that local industry should not suffer consequently.
This was stated by India Pakistan Chamber President and Trade Development Authority of Pakistan Chief Executive Officer S M Muneer while talking to Customs Today.
“We need to work hard to capture India’s huge market besides we also need to open other borders for mutual trade in order to reduce pressure at the Wagha border,” SM Muneer said, adding that the trade between the two countries will start competition in the region and fittest will survive.
Muneer said that TDAP was being put back on track through strict reforms and serious efforts are being made to achieve $50 billion export target in the coming years.
He added that government was in process of bringing positive changes in rules and business environment to enhance the export in collaboration with the industry. He, however, urged business community to bring their TDAP related issues into his knowledge directly.
Meanwhile, Pakistan Carpet Manufacturers & Exporters Association demanded representation in the Board of Export Development Fund, as the industry is mainstay of the economy and major stakeholder in foreign exchange earnings.
The association’s Chairman Akhtar Nazir Cooki and Vice Chairman Kamran Razi made this demand in a meeting with S.M. Muneer, who visited the Association office.
Briefing the TDAP Chief, the PCMEA office-bearers said the Authority should focus on enhancing exports to China, the world’s largest market, besides promoting export-oriented industry and technical skills.
They said the carpet sector could benefit from duty-free access to European Union market under GSP Plus status, provided the government restored zero-rated regime for export-oriented carpet industry to help ease its liquidity flow. A significant ratio of working capital of carpet exporters was already stuck in refund regime at a time when the carpet exports declined to $120 million from $300 million. TDAP CEO SM Muneer assured the association of early resolution of their problems.
