ISLAMABAD: Adviser to Prime Minister on Commerce, Textiles and Industries Abdul Razak Dawood Wednesday said trade di
ISLAMABAD: Adviser to Prime Minister on Commerce, Textiles and Industries Abdul Razak Dawood Wednesday said trade diversification through engineering goods would increase the local exports for increasing revenue.
He said through “Look Africa” policy, the government would facilitate the exporters to promote their engineering businesses in different untapped markets of African countries as well as in European Union by making their products competitive, he said this while briefing to the Senate Standing Committee on Commerce and Textile Industry here.
The meeting of the Senate Standing Committee on Commerce and Textile Industry was held under the Chairmanship of Senator Mirza Muhammad Afridi.
“We are paying full attention on export of engineering good including tractor, Air-conditioners; water dispensers, the exports of which would soon start in three main potential market of African region including Kenya, Tanzania and Mozambique,” he remarked.
He said the government had negotiated and signed Memorandum of Understanding (MoU) with Angola’s Private sector companies for export of 5000 local tractors.
“We also received export order from European Union of 10,000 water dispensers while a separate negotiation was also in process for export of Air-conditioner to European Countries,” Razzak Dawood added.
He said local textile exports were increasing and have witnessed a positive trend in past few months, expressing the hope that after Free Trade Agreement (FTA) Phase-II with Chinese, the local textile would get more market space in China.
Briefing to the committee, he said the government had got duty free access of $1 billion to China in addition to the FTA-II China, which would help boost country’s exports to China, particularly the exports of sugar, rice and local yarn.
The committee also discussed the private bill to amend the Trade Organization Act, 2013, (The Trade Organizations (amendment) Bill, 2109, proposed by Senator Naseebullah Bazai.
After discussion in the committee and proposal form representative of different Chamber of Commerce the bill was withdrew by Senator Bazai.
The committee also directed to the Ministry of Commerce to initiate and hold a meeting with Prime Minster on the issue of Infrastructure Cess tax imposed by the government for resolve this with the consensus of all stake holders.
Senator Syed Shibli Faraz, Ahmed Khan , Dr Ghous Muhammad Khan Niazi, Imamuddin Shouqeen , Gian Chand, Senior officials of ministry of Commerce and representative from different chambers attended the meeting.