Minister for Commerce Khurram Dastgir Khan has said that the draft of a three-year strategic trade policy framework has been sent to the prime minister for final approval. "As soon as the prime minister accords approval, the policy will be announced," he told APP in an interview.
He said, the cabinet committee on export and production headed by Finance Minister, Senator Mohammad Ishaq Dar has already accorded approval to the policy framework. The ministry of commerce has also accommodated the inputs of various stakeholders and experts to make the policy more trade and export oriented for the benefit of the country, he added.
The Commerce Minister said that Pakistan China Business Opportunity Conference will be held here next week to further invigorate the trade and business relations between the two friendly countries. "The ministry of commerce is hosting a day long Pak-China Business Opportunity Conference to exploit business opportunities being offered for Chinese investors in Pakistan," he told APP in an exclusive interview. The Chinese business delegation will also visit Lahore and then go to Karachi to meet the Chief Ministers of Punjab and Sindh and discuss business opportunities in their respective provinces.
The Minister said during the conference, the senior officials of Pakistan will share five principals good news with the visiting participants that Pakistan has politically stabilised and it is a peaceful country for all the investors including Chinese businessmen.
Pakistan, he said, has achieved macro economic stability as it has sufficient foreign exchange reserves to meet its international obligations. Pakistan, he said, has grappled with the energy crisis of electricity and natural gas, adding, under China-Pakistan Economic Corridor (CPEC), there will be an investment of US $35 billion in energy sector only. He added that US $46 billion CEPEC would equally benefit all the provinces including Gilgit and Baltistan.
He said first Liquefied Natural Gas (LNG) terminal is already operational while the second terminal will soon be set up to import large scale gas aimed at bringing growth to the industry and relief to the consumers.
About regional connectivity for shared prosperity, the minister said, it is the vision of the prime minister to promote regional trade with neighbouring countries including Afghanistan and this trade should be expended to Central Asian Republics (CARs).
Under this vision, the government will import 1000 MW electricity from Tajikistan under CASA-1000 while Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline is being constructed to meet the energy need of these regional countries, he added.
When asked about the benefits of GSP Plus status given to Pakistan by the European Union (EU), he said, the exports have witnessed 33 percent increase due to this facility during the last 19 months. The exported items were mainly ready-made garments and leader goods, he added.
While dispelling the apprehension about the GSP Plus status to Pakistan, he said, that Pakistan has fulfilled its all legal obligations through economic diplomacy in the EU and European Commission. Responding to yet another question, he said, the ministry of commerce has focussed agriculture to enhance its exports by increasing its competitiveness.
Pakistan, he said, exported record volume of Potato and Kinnow to Russia last season while "We are making efforts to explore markets for Pakistani agriculture goods to further enhance exports to Central Asian countries, Malaysia and Indonesia."
He said that Philippine and Cuba have imported 10,000 tons and 15,000 tons of rice respectively while Indonesia has imported rice worth US $40 million during last few months.
He said that under market access, Pakistan is negotiating Free Trade Agreements (FTAs) with Turkey and Thailand while new markets will be explored in East Asia especially South Korea for the similar agreement.
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