The committee directed the ministry of commerce for legal review and amendments in TDAP act 2013 and report in committee for further input by mid of June 2017.
The committee meeting was chaired by the Senator Syed Shibli Faraz here in Parliament house.
Shibli Faraz stressed the need for structural, administrative and legal reforms in TDAP and implementation of policy with true spirit.
On the occasion, Secretary Commerce Mohammad Younus Dagha said the ministry was fully committed to introducing reforms in TDAP and evolve the research institute for enhancing the trade volume.
He informed the committee that the ministry would establish a new think tank, "Pakistan Institute of Trade and Development (PITD)", which would be the first think tank to work on academic research and also play big role for enhancing the capacity of traders."
He added that PITD would be inaugurated in coming September 2017 to promote market based trade and academic research.
Giving briefing regarding China Pakistan Economic Corridor (CPEC), senior official of the ministry of commerce said that according to the World Bank report, CPEC would provide 4.5 million jobs to the people and would have positive impact on over 30 million people.
He informed that the ministry would provide trade facilitation under CPEC, and would focus on upgradation of infrastructure, enhancing connectivity, manufacturing Special Economic Zones (SEZs) and boosting intra country trade.
The official said that economic integration with China was the main focus to get more benefits in trade and investment.
He said that joint working group in energy, transport, investment and special joint working group on Gawadar would also implement the long and short term planning and policy decision.
The committee also seek report on official visits of official of ministry and their benefits for enhancing foreign trade.
Ministry of commerce also briefed the committee regarding the operational procedure of Exim bank.
The ministry focuses mainly on policy level trade, investment and employment opportunities through CPEC.
Senator Haji saifullah Khan Bangash, Mufti Abdul Sattar, Mrs. Naseema Ehsan and other official of ministry of commerce attended the meeting.