'Pakistan has untapped export potential of $15 billion'

The Pakistan Industrial and Traders Associations Front (PIAF) has asked the government to adopt an approach aimed at developing both the agricultural and industrial sectors to increase the country's exports. PIAF former chairman Irfan Iqbal Sheikh also suggested the businessmen to adopt an aggressive marketing strategy to get their due share in the international market. Regional trade is another neglected area where due attention is direly needed.
He said Pakistan had an untapped export potential of $15 billion, as there is potential in home textile products, apparels, leather products and cereals to double the exports within a year. "Despite having best quality, Pakistani merchandise are not finding their way to the most parts of the world just because of lack of aggressive marketing strategy, he said. The regional trade is another neglected area where we have to do a lot of work through public-private partnership," he added.
He said that promotion of regional trade was a must to enhance exports which are showing a declining trend. "It is a matter of concern that our exports are going down at a time when our competitors are writing new stories of success in the global market," he maintained.
"We are still struggling to achieve our minimal export target despite having all resources to move forward while those countries are far ahead of us which were following our economic role model in the past," he said.
Irfan Iqbl Sheikh said there was a need to devise a comprehensive strategy to promote the industry on commercial basis which would not only support the manufactures but also increase exports. He said good working environment would enhance the capacity of workers enabling them to compete internationally.
He suggested the cabinet to pursue radical economic reforms through a long-term stable administration. The Ministry of Commerce should explore potential in international markets to enhance exports. It should work to search new trade avenues and markets in different world regions, as the new trade policy was focused on improving supply chain, enhancing use of technology and providing competitiveness in a bid to enhance volume of international and internal trade. As a result of high tariffs and taxation, cost of production is increasing and cannot compete in the global market thus badly hampering the export substantially, he said.
Moreover, it is essential to have an agricultural policy that increases the supply of raw material to agro-based industries, both domestic and foreign, so that it could help domestic textile producers regain lost competitiveness in the world market. Furthermore, there is a need to diversify the range of value-added traditional industrial goods, such as consumer textile and leather products, as well as of non-traditional industrial goods, he said.