Federal commerce minister Humayun Akhtar has said that country''s export will continue to grow at four percent average during the coming months of current financial year.
Responding to queries of newsmen at a press conference on Friday, minister did not see any negative impact on the whole year export target because of major slump of 22 percent in the export of textile products in month of January compared to its preceding month of December.
"This decline was because of bulk buying for new year and Christmas season in month of December compared to January, when this buying spree came to end", he pointed out and sounded optimism about the achievement of export target at the end of current fiscal.
Humayun Akhtar talked at length on the issues ranging from Free Trade Agreements (FTAs) with various countries to textile sector and issues related to trade with India especially the recent Safta-related tariff concessions.
About the possibility of signing of FTA with European Union (EU), he said that a trade working group will be established under joint commission of Pakistan and EU would provide a forum to discuss the bilateral trade issues not precluding FTA.
Signing of FTA with Gulf Co-operation Council (GCC), minister said that there is problem on part of Pakistan, but it is GCC Secretariat, which is moving slowly in this regard. "During my visit to Saudi Arabia, I discussed it with my Saudi counterpart and urged to expedite the process in this connection", he told the reporters.
On a question related to market access, he declared that there is no issue of market access of the country products to various markets. The trade diplomacy in the last few years has worked well.
The FTA with China, Reconstruction Opportunities Zones (OPZs), Safta in South Asia, PTA with Iran are reflective of this trade diplomacy. Besides, we are also going to sign FTA with Asean. Humayun said that government is studying issues related post-quota regime, and added that we are benchmarking the textile sector to determine the current situation.
In reply to query about high cost of production in the country due to high charges of gas and electricity, minister claimed that the rates of gas and electricity are less than India, Sri Lanka and China. "I say with authority that Pakistan is not the most expensive country as far as the rates of gas and electricity are concerned", he added.
About the Safta, minister said that non-tariff barriers (NBTs) on part of India are big hurdles in implementation of this agreement. India says that Pakistan is not compliant with this agreement, which is not correct, minister asserted.