AVN 65.45 Increased By ▲ 0.50 (0.77%)
BAFL 30.65 Decreased By ▼ -0.86 (-2.73%)
BOP 4.83 Increased By ▲ 0.04 (0.84%)
CNERGY 3.72 Decreased By ▼ -0.12 (-3.13%)
DFML 14.26 Decreased By ▼ -0.15 (-1.04%)
DGKC 41.06 Decreased By ▼ -0.54 (-1.3%)
EPCL 46.56 Decreased By ▼ -0.14 (-0.3%)
FCCL 11.35 Increased By ▲ 0.06 (0.53%)
FFL 5.03 Decreased By ▼ -0.02 (-0.4%)
FLYNG 5.78 Decreased By ▼ -0.04 (-0.69%)
GGL 10.28 Decreased By ▼ -0.17 (-1.63%)
HUBC 67.03 Increased By ▲ 1.39 (2.12%)
HUMNL 5.68 Increased By ▲ 0.02 (0.35%)
KAPCO 27.85 Increased By ▲ 0.10 (0.36%)
KEL 2.19 Increased By ▲ 0.04 (1.86%)
LOTCHEM 24.83 Increased By ▲ 0.48 (1.97%)
MLCF 21.37 Decreased By ▼ -0.11 (-0.51%)
NETSOL 84.20 Decreased By ▼ -0.59 (-0.7%)
OGDC 85.94 Decreased By ▼ -1.31 (-1.5%)
PAEL 11.01 Increased By ▲ 0.03 (0.27%)
PIBTL 4.17 Decreased By ▼ -0.05 (-1.18%)
PPL 74.56 Decreased By ▼ -1.14 (-1.51%)
PRL 13.40 Decreased By ▼ -0.25 (-1.83%)
SILK 0.92 Increased By ▲ 0.03 (3.37%)
SNGP 40.44 Decreased By ▼ -0.89 (-2.15%)
TELE 5.86 Increased By ▲ 0.01 (0.17%)
TPLP 15.42 Decreased By ▼ -0.22 (-1.41%)
TRG 111.63 Decreased By ▼ -0.07 (-0.06%)
UNITY 13.76 Decreased By ▼ -0.22 (-1.57%)
WTL 1.14 Decreased By ▼ -0.02 (-1.72%)
BR100 4,037 Decreased By -26.9 (-0.66%)
BR30 14,412 Decreased By -56.6 (-0.39%)
KSE100 40,471 Decreased By -262.4 (-0.64%)
KSE30 15,163 Decreased By -67.2 (-0.44%)
Follow us

ISLAMABAD: Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood, was briefed on product and geographical export diversification.

During the briefing, he was informed that MoC has launched a number of initiatives aimed at product and market diversification of exports including Look Africa Policy, Reconnect Silk Route policy for Central Asian Republics (CARs), Drawback of Local Taxes and Levies (DLTL), rationalisation of tariff on key imports for non-traditional products, second phase of China-Pakistan FTA & other Market Access Initiatives, EU-GSP Plus scheme, competitive energy prices, early opening during Covid-19, STPF Policy Initiatives, E-Commerce Initiatives, etc.

He was informed that the MoC is focusing both on diversification within the traditional product sectors like technical textiles and other specialised products’ sectors where currently there is little or no export but we have immense export potential exists.

He was also informed that in addition to the above the MoC is also focusing on diversification into Non-Traditional product sectors.

He was informed that the MoC has conducted in-depth analysis on the degree of export diversification between the average exports between 2015 and 2018 which was then compared with 2020-21.

The analysis showed that for the traditional markets, the export of traditional products increased by 7% with net increase of $ 1.028 billion. In the same markets, the export of non-traditional products increased by 60%, a net increase of $ 2.022 billion in value.

He was informed that for the non-traditional markets, the export of traditional products decreased by 1% or $ 33 million. In contrast, the export of non-traditional products increased by 77% with increase of $ 713 million.

The Advisor appreciated the good work done by the MoC in conducting the analysis. Product export diversification has to be coupled with geographical diversification to new markets like Africa and South America” said Dawood. He said that the policy has just begun to show results but there is still a long way to go in this regard.

Comments

Comments are closed.

Dawood briefed about steps aimed at wider export diversification

Dar hits out at Imran Khan’s ‘irresponsible tweet’ about current govt

Islamabad court sends Sheikh Rashid on 14-day judicial remand

Imran says PTI to fill jails on his call to protest against govt's vengeful actions

Imran Khan not brave enough to voluntarily accept arrest: Marriyum Aurangzeb

Analyst fears further rupee decline in coming days

Wikipedia asks Pakistan to restore access to its service

Sri Lanka completing pre-requisites for IMF aid: President

Pakistan to appeal to Taliban leader after terrorism surges

US allows seized Russian money to go to Ukraine aid: report

Ukraine, Russia swap prisoners; bodies of British volunteers returned