Commerce Ministry declares new trade policy to boost exports
22 Jul '05
1 min read
Pakistan, Federal Minister for Commerce, Humayun Akhtar Khan announced new trade policy predicting export target of 17 billion dollars for fiscal year 2005-06. This anticipation is 18 percent higher comparing exports of 14.4 billion dollars achieved last year.
Khan informed that this policy is designed to give utmost opportunity to exports for Pakistani business community by reducing the cost of business.
The new trade policy encloses a fast export growth strategy based on enhanced market access, focus on abandoned regions, trade promotion infrastructure, large scale training and provision of state of the art physical infrastructure to encourage investment.
The government has unleashed a special textile & garment package, which includes research and development support that would help the sector from a loss of 400 million dollars of potential exports, and 500 000 jobs in SME sector, explained Khan.
Minister also announced special packages to uphold textile exports, leather garments, gem and jewelry.
Pointing to Central Asia, Latin America and Africa, he said precedence to countries have been undertaken in order increase Pakistan's exports. The policy aims on factors to improve country's exports to US and EU.
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