Upcoming Trade Policy must focus on promotion of export of non-traditional items as country's concentration on a few items and on a few countries is hitting the export hard. Pakistan Industrial and Traders Associations Front (PIAF) Chairman Sohail Lashari said that auto parts, handicrafts, precious stones, herbal medicines and fruits have vast potential for export in South East Asia, Far East and African region and a little attention towards these areas could do miracle.
In his Trade Policy proposals, Lashari said that textile sector makes more than 65% of total export earnings despite the fact that Pakistan produces excellent quality of fruits & vegetables, Halal meat, auto parts, confectionery items, sports goods and medical equipment, etc. He said that government should ensure availability of cheap energy for the industry, as the energy is the engine of industrial growth. He said that prolonged power outages hitting the export-oriented industry hard.
He said the government must take the business community leaders on board while finalising the Trade Policy. He said the business community is ready to supplement all government efforts aimed at enhancing the export but it is written on the wall that without due consultation of real stakeholders even the easiest targets become hard to be achieved. He said that suggestions and proposals of the business community must be given due consideration if the government wants to achieve the export targets.
He said the delegations organised by the TDAP should be finalised in close consultation with chambers to ensure greater representation of private sector at international trading events such as trade fairs and single country exhibitions that play a vital role to enhance the exports.
According to him, embassies of our neighbouring countries are playing pivotal role in promoting trade diplomacy all around the globe in close liaison with their trade supporting organisations. The commercial sections of these embassies are found proactive and the commercial councillors remain busy in studying the international market trends. He proposed that the TDAP should also interact with Pakistan's embassies abroad and ask them to apprise the business community about the new trends and trade related legal requirements of any particular country or a trading bloc.
Experts believe that we need a paradigm shift to enable our firms and entrepreneurs to become globally competitive and export those products which are valued more in the international market. This would involve structural transformation in the form of increased mobility of labour and capital across sectors and change their production processes and ultimately the content of exports.
They told Business Recorder that the government needs to address the most pressing supply-side constraints such as the shortage of energy, cost of capital and difficulties linked with adverse travel advisories. In order to address our strategic objective of increasing the sophistication level of Pakistan's exports products and enhance firm level competitiveness, the government must integrate the local productive capacity with globally integrated supply chain, co-ordinate and leverage the skill up-gradation programmes in the priority sectors and strengthen the institutions entrusted with the skills and acquire and upgrade technology level so that Pakistan can move away from the traditional and low value export products.
They said that there is a consensus among all the stakeholders in Pakistan's international trade that the country's exports can become an engine of growth and prosperity in Pakistan, if the relevant institutions, both in public and private sector, implement a holistic strategy to enhance competitiveness of exports.
Comments
Comments are closed.