EPB urged to explore new markets

Export Promotion Bureau (EPB) has a great role to play to enhance the export volume by encouraging business community to face the challenges of the World Trade Organisation (WTO) and South Asian Free Trade Agreement (Safta) regimes, said Hussain Ahmed Ozgen President Rawalpindi Chamber of Commerce and Industry (RCCI) here on Wednesday.
Talking to a group of journalists in his office, he said that keeping in view the newly announced Trade Policy for the fiscal year 2004-05, EPB should gear up its efforts in obtaining the exports targets.
He said that the recently announced trade policy for the year 2004-05 was business friendly and it had a capacity to deliver goods if implemented in true letter and spirit. He said that EPB would be able in obtaining the export targets as the perception of Pakistan in abroad had changed positively.
As a result of the consistency in policies for the last few years, he said the businessman's confidence had restored as the government was trying to provide maximum facilitation to the business community and the exporters. Different kinds of incentives had also been given in this regard.
Rawalpindi Chamber President said that keeping in view the future challenges on world economic front like WTO and Safta the EPB must explore new markets for Pakistani products, where their products could effectively penetrate. He said that the business community of the country was preparing itself in this regard and working hard for future competition.
Ozgen said that rise in exports was a must for the stability of the country while it would help in boosting the industrial sector of the country. Although the import target of $16.7 billion was better but government should make efforts to reduce the import bill.
Talking about the $3.0 billion trade deficit, he said that government would overcome this menace and reduce the deficit by giving more incentives to the industrialists of the country.
"Once our products would be cost effective and better in quality, we will be in a position to get a good space in the international market and reduce the trade deficit", he added.