President Sialkot Chamber of Commerce and Industry (SCCI) Zahid Latif Malik has urged the government to take drastic steps for streamlining existing markets and identification of new potential markets for Made in Pakistan products. Talking to Business Recorder on Sunday, he said that Commerce Ministry in collaboration with Trade Development Authority of Pakistan and trade associations should work on streamlining the existing markets and identify potential markets.
About decline in exports, he said, "We have observed our exports are mainly targeted to specific regions which were facing economy slowdown. Pakistan should focus on exploring new potent markets like Far East, Central Asian Republic ,Latin America and most importantly Russia," he maintained.
He further said that effective strategies should devised for tapping the potential of the markets and special step should be taken for initiating negotiations for the free trade agreements. In addition essential resources should be deployed for gathering market intelligence and creating trade linkages, he said.
The setting of EXIM Bank (Export import bank of Pakistan) is need of the hour to facilitate the export sector of the country in terms of financing and other related issues, adding that the EXIM bank should be given practical shape in the larger interest of export sector. The government should take immediate steps for the establishment of EXIM Bank, he added.
Sialkot is a export hub and earning US 2 billion dollars through its export and strengthening national exchequer despite of certain problems confronted by the local business community, he said.
Zahid said that keeping in view the contribution and importance of Sialkot, the government should take step for setting up Special Economic Zone in Sialkot to facilitate the business community of Gujrat, Gujranwala, Sialkot and many other adjoining areas.