MoC seeks stakeholders' inputs to devise STPF

The Ministry of Commerce (MoC) has invited inputs from all public and private sectors stakeholders for inclusion in the Strategic Trade Policy Framework (STPF) 2018-23 and for this purpose approaching chambers and trade associations. Five-Year STPF 2018-23 was announced by the Ministry of Commerce in March last year to promote exports, maximize gains from trade, enhance competitiveness and foster investment opportunities to achieve export-led growth of the economy.
The spirit behind the formulation of STPF was to address the narrow export base which is characterized by predominance of primary, traditional and limited products and markets. The Strategic Trade Policy Framework 2015-18 shall be concluded at the end of the fiscal year 2018. This STPF addressed areas related to the export development, market access, institutional strengthening and regulatory framework. However, effective policy of the country should be developed with coordination and after synergizing all development vision of the government.
Pakistan's exports have shown positive growth in the current financial year by 11.80 percent (July-August), however, the shrinking global demand and high cost of productions are major impediments, which require collaborative efforts by the public and private stakeholders and policy reforms.
Talking to this scribe, senior manager, SMEDA, regional office, Peshawar, Rashid Aman told that they are seeking inputs from chambers and trade associations on behalf of the Ministry of Commerce, as part of its initiative for initiating broad-based consultative process to formulate succeeding policy for the next period of five years, instead of three years and to keep consistency in the regulations and incentives.
The scope of the STPF 2018-23 will encompass issues pertaining to supply chain development, market access initiatives, trade promotion and trade facilitation. Furthermore, the regulatory measures will also be simplified with the view to reduce cost of doing business and facilitate business community to avoid unnecessary hurdles in importing and exporting goods of their requirements and at the same time address legitimate health, environment and security concerns. The last date for submission of the proposal for Strategic Trade Policy Framework 2018-23 is 1st December, 2017.