ASEAN member states, Central Asia: Markets under renewed govt focus to boost exports: DG TDAP

LAHORE: Director General of the Trade Development Authority of Pakistan (TDAP) Rafia Syed has said that ASEAN and Central Asian states are well on the radar as these are key markets to boost Pakistani exports.

LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry also spoke on the occasion and underlined the need for collaborative efforts to enhance Pakistan’s export capabilities. Former Senior Vice President Ali Hussam Asghar, former Vice President Tahir Manzoor Chaudhry and Executive Committee Members were also present.

DG TDAP invited the LCCI members to participate in the exhibition organized by TDAP, scheduled for February 2025 in Saudi Arabia and January 2025 in Ethiopia.

She said that TDAP is committed for policy advocacy and highlighted the role of value-added products in boosting export. She said that TDAP is utilizing all available marketing tools including delegations and webinars for the exports promotion.

LCCI President Mian Abuzar Shad spoke about the critical issues affecting exports, citing rising business costs, particularly high energy prices, increased policy rates and inconsistencies in economic policies as major hindrances.

He said that 68% of Pakistan’s exports are concentrated in textiles, leather and rice and also highlighted the untapped export potential in sectors like halal food, pharmaceuticals, Information Technology, engineering, surgical instruments and sports goods.

The LCCI President stressed the urgency of seeking new markets saying that a staggering 68% of exports are limited to just ten countries. “There is immense trade potential in Africa, ASEAN and Central Asian states and we need to capitalize on these opportunities,” he added. He also highlighted the need for strategic partnerships and increased visibility in international markets.

Copyright Business Recorder, 2024