Chief Executive, Trade Development Authority of Pakistan (TDAP), S M Munir, has said that Pakistan is facing many socio-economic challenges that can only be tackled through strong commitment and unity by all stakeholders. Speaking at a seminar on GSP Plus at Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday, he said that the country was required to formulate business-friendly policies so that the confidence of the private sector could be restored.
Munir said that it was a sign of relief that despite facing various socio-economic challenges, the country's economy was moving in the right direction. He said that Pakistan was a business-friendly destination and offered excellent opportunities to foreign investors and welcomed investment in all sectors. Munir appreciated the endeavours being made by the government towards uplifting the national economy.
He was optimistic that all challenges would be overcome and Pakistan would soon be on the road of prosperity and progress. Munir said that the entire business community had great expectations from the government that it would make efforts towards boosting exports and enhancing bilateral trade and economic relations with different countries. Munir said awarding GSP Plus stratus to Pakistan, no doubt, was a milestone as it showed the confidence of international markets on the quality of Pakistani products. He said that it also provided an opportunity to participate fully in international trade and generate additional revenue for economic stability of the country.
He noted that the country's total exports were confined to 25 billion dollars, which needed to be enhanced considerably and expressed optimism that this could easily be increased in a very short span of time by encouraging and facilitating exports with proper infrastructure and incentives. Speaking on the occasion, FPCCI President Mian Mohammad Adrees said that Pakistan and European Union countries were enjoying pleasant and cordial bilateral relations, which had benefited social, economic, education, cultural and technical sectors.