ISLAMABAD: The Standing Committee on Commerce has asked the Commerce Ministry to adopt successful regional trade models used by other countries while addressing the challenge of over-reliance on imports from China.

On Monday, the committee meeting presided over by MNA Muhammad Jawed Hanif Khan discussed pressing issues related to Pakistan’s trade policies focusing on enhancing exports, regional trade dynamics and the performance of the Trade Development Authority of Pakistan (TDAP).

The committee convened to review the detailed workings of the TDAP, alongside briefings by the secretaries of ministries of Commerce, Defence, and Foreign Affairs.

Xi’an witnessing increased Pak-China cooperation

The discussions centered on the security and diplomatic imperatives of regional trade with a specific focus on Pakistan’s neighbouring countries: India, Iran, Afghanistan and China.

The committee expressed its disappointment over the absence of senior officials from the Ministry of Foreign Affairs, emphasising that such absences undermine the importance of these high-level meetings.

It was stressed that future meetings should see full attendance, as MNAs make efforts to participate in these vital discussions from all across Pakistan. The representative from the TDAP, who attended via Zoom, was also criticised for not being present in person.

The committee underlined that the heads of relevant departments must attend these meetings to facilitate meaningful and productive dialogue. As a result, the agenda relating to the TDAP was deferred to the next committee meeting.

Throughout the meeting, the committee members highlighted the importance of formulating effective strategies to boost Pakistan’s exports. They stressed the need for measures that would address existing gaps in the system and called on the Ministry of Commerce to present clear and quantifiable steps that could directly impact Pakistan’s export targets.

The committee reaffirmed its commitment to work alongside the ministry to ensure that export objectives were achieved efficiently. It called for Pakistan to adopt successful regional trade models used by other countries while addressing the challenge of over-reliance on imports from China.

The importance of increasing local production and reducing dependence on Chinese imports was underscored as a crucial step towards achieving economic resilience. A significant portion of the discussion also addressed the socio-economic challenges facing Balochistan, particularly, the issues related to border trade.

The committee acknowledged that these issues must be explored in greater detail in future sessions to ensure that Balochistan’s trade potential was fully realised.

The committee concluded by urging the government to formalise banking channels to streamline trade with neighbouring countries. It also called for closer collaboration between government agencies and the private sector to address trade barriers and enhance export performance. The meeting ended on a note of commitment, with the committee expressing its resolve to push forward strategic initiatives aimed at boosting Pakistan’s exports and addressing the structural issues hindering trade growth.

The meeting was attended by MNAs, Muhammad Atif, Khursheed Ahmed Junejo, Mirza Ikhtiar Baig, Farhan Chishti, Rana Atif, Mir Amir Ali Khan Magsi, Rana Mubashir Iqbal, Tahira Aurangzeb, Shaista Pervaiz, and Kiran Haider.

Senior officers from the Ministry of Commerce were also present in the meeting.

Copyright Business Recorder, 2024