I am glad to learn that in line with its tradition the Federation of Pakistan Chambers of Commerce & Industry FPPCI is holding the 40th edition of Annual Export Trophy Awards to honour the outstanding performance of exporters during 2015-16. I am pleased to know that FPCCI Export Trophy Awards have earned recognition not only in local business circles but also in the international community and have become a source of pride for Pakistani exporters.
Recently, Pakistan's exports have remained under pressure due to a combination of domestic and external factors. As a result, Pakistan's exports are struggling in a difficult trading environment where global trade has contracted and most of the developing countries like Pakistan with similar product mix have also suffered a decline in exports. With growing competition among developing countries for promotion of their exports, Pakistan will have to explore new avenues for marketing its traditional and non-traditional export items.
The Government is fully cognisant of the challenges faced by the exporters and striving to stem the decline in exports and put it back on growth trajectory through various policy initiatives. Besides the sector specific measures announced in the Strategic Trade Policy Framework, the Government is also trying to ease the pressure on export sector through multiple measures like improving access to energy, downward adjustment in electricity tariff, lowering interest rates and zero rating of leading export sectors.
The Government is determined to expand exports and has therefore provided incentives and encouragement to the private sector to enable it to meet challenges from foreign competitors in the export sector. I assure the private sector of Government's full support in consolidating our foothold in existing markets and at the same time in exploring new markets for furthering the country's exports.
The holding of Annual FPCCI Export Trophy Awards is a good tradition for providing encouragement to our exporters and entrepreneurs to achieve higher standards of quality and excellence and to win acknowledgement from the country's apex body of trade and industry.
I commend the efforts of FPCCI, on holding the Export Awards Ceremony for the year 2015-16. I once again congratulate all the winners of the Award and wish them success in their future endeavours.