Govt to provide buying houses maximum support for exports boost

KARACHI: The government, realizing the pivotal role of buying and sourcing houses in promotion of regional and international trade, is ready to provide all kind of support and facilitation to these; also re-activate those which have suspended their operations in Pakistan for one reason or another, said Federal Secretary Commerce Muhammad Younas Dagha while speaking at a Buying and Sourcing Houses Symposium at a local hotel on Wednesday.

He said "We want to listen to their grievances for quick resolution. We want to enhance buying houses role and shall welcome maximum input from these for making better and targeted trade policies."

Secretary, Trade Development Authority of Pakistan, Inamullah Khan Dharejo, representatives from more than sixty buying and sourcing houses, a group of senior officers from Federal Board of Revenue attended this important event.

The buying and sourcing houses are international supply chains and having employed buying agents in various countries including Pakistan. They did buy goods for their masters as and when required by them.

The Secretary Commerce said that his ministry would mobilize agents of the buying houses for not only to purchase Pakistani goods ordered by their houses (companies) but promote more quality products available in our country.

'We want projection of our goods in international market through these agents,' he said.

He said, this symposium would provide the best platform to share ideas and discuss possible solutions to various issues relating to promotion of trade in regional and international markets.

He expressed his satisfaction on, around 12 percent increase in exports in last six months and that the government was taking various short and medium term measures to sustain this growth, along with coming up long-term strategy to boost the exports. Rupees 180 billion Prime Minister's exports package was a part of the government's efforts to increase exports.

Younas Dagha highlighted the salient features of the fist five-year Strategic Trade Policy Framework (for 2018-23). Earlier, since 2009, three textile policies of 3-year period each were announced. The five year STPF would encourage exports sector which demanded continuity and sustainability of the trade policies. The focus would provide maximum market access to exporters. This includes the government's vision 'Look Towards Africa.'

The five-year STPF, which was being finalized through due consultations with the stakeholders, would applicable from 1st of July 2018. It would also be aimed at strengthening exports sector by cutting the cost of production and by ensuring ease of doing business.

He said that the government was engaged in dialogue with many countries to sign preferential trade agreements and free trade agreements , which included Turkey, Thailand, China and United States.

He expressed satisfaction over the appreciation that Pakistan got from European Union during the second review of GSP-plus status; providing Pakistani goods free access to the EU markets.

Among ten countries getting GSP-plus facility, Pakistan was the top beneficiary; harvesting 70 percent benefits, he said.

The Secretary Commerce mentioned the legislation done by the present government on human, women, transgender, children and minorities rights.

This would strengthen Pakistan's position for availing the benefits of GSP-plus facility.

He said, as part of today's symposium, the panel discussions of experts would provide very useful information in the formulation of policies to promote trade at regional and international levels.

Director General of Trade Policies, Federal Ministry of Commerce, Muhammad Ashraf also gave presentation on the current status of trade and on the future initiatives being taken in this regard.