KARACHI: President KCCI Muhammad Haroon Agar has stressed that Pakistan should focus on signing preferential and free trade agreements with as many countries as possible.
For increased exports of the country, he said, it would be imperative to promote the regional trade by encouraging exports to India and other SAARC countries, ASEAN countries, the Central Asian Republics, China, Middle East and North Africa, Iran and Eurasian region.
KCCI President was exchanging views with World Bank's Consultant on Trade and Finance Sadia Khan during her visit to KCCI, said a release by Karachi Chamber of Commerce and Industry here.
M. Haroon Agar recommended for setting up sector-specific export promotion councils and export-import (EXIM) bank in Pakistan. This is very much required for promoting and developing the exports of the country, he said.
Trade Development Authority of Pakistan (TDAP) should create direct linkages with stakeholders, local and abroad to materialise resources towards the pursuit of a quantum leap in exports. For successful export promotion it is vital that the product supply chain is strengthened specially to add value, Agar said.
President KCCI said that enhancing industrialisation and exports is the only answer to the revival and strengthening of the national economy.
Due to energy crisis and high cost of manufacturing our export oriented industry has become uncompetitive. Export figure is not truly aligned with the existing export potential, he said.
He proposed that the incoming Government should appoint Exports Attaches at Pakistan's foreign missions who should be responsible for disseminating the useful information regarding local companies, buyers' demand and supply trends besides organising exhibitions and fairs to help exporters tap new markets all over the world.
World Bank's Consultant on Trade and Finance Sadia Khan recognised the role of Karachi Chamber of Commerce and Industry in socio-economic development of Pakistan and to promote commerce and industry.
She sought KCCI's input to identify issues and challenges for traders to access trade finance facilities from financial institutions, to gauge demand for working capital and common means employed to address demand from both informal and formal channels. She also sought views on the notion that access to finance from formal sector is by large the factor hindering export trade.
KCCI Senior Vice President Shamim Firpo and Vice President Nasir Mehmood, former president KCCI Mian Abrar Ahmad and the Managing Committee Members also attended the meeting.
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