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Export target: TDAP DG assures private sector full support

The granting of GSP Plus status to Pakistan by the European Union has opened up new opportunities for boosting exports and improving private sector, said.Shahzad Hussain Rana, Director General, Trade Development Authority of Pakistan (TDAP) He said the private sector should accelerate its efforts for achieving US $30 billion export target to reap full benefits of this facility, while exchanging views with business community.

According to a press release issued here, he said, "we have to strengthen the supply side to facilitate the exporters." Dilating upon Pak-India trade potential, he said currently trade is in India's favour; however, Pakistan has good potential to increase trade with India if India removes all technical barriers, which are acting as main hindrance in promoting trade up to the real potential. He was of the view that trade and investment stakes will promote peace between the two countries.

Shahzad Rana said that with the increase in per capita income in China, labour cost of the country has gone up while Pakistan offers cheap and quality labour, which could be an important factor to attract Chinese investment. Speaking at the occasion, Shaban Khalid, President, Islamabad Chamber of Commerce & Industry (ICCI) said that should support Chambers of Commerce in inviting foreign delegations so that they could visit our country to explore full potential of trade and investment with Pakistan.

He said private sector needs the support of FBR, Pakistan Customs and other relevant government organisations to improve exports as the current approach of these organisations is not helpful in such efforts. He said apart from textile sector, government should also support industrial, engineering and agriculture sectors giving them preference in energy and other facilities to strengthen the economy.

Shaban Khalid said Pakistan has to increase manufacturing scale to compete effectively with India. He said various countries are offering special packages to woo Chinese investors and Pakistan should also come up with good incentives for foreign investors to enhance investment in the country.

Copyright News Network International, 2014


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln