Evaluation of cost competitiveness of firms: MoC urged to set up experts' team

Khawaja Jalaluddin Roomi, Chairman of All Pakistan Bedsheet and Upholstry Manufacturers Association (APBUMA), at a seminar urged Ministry of Commerce to constitute a team of experts to evaluate cost competitiveness of the firms. He also urged that such seminars should be arranged more frequently to guide entrepreneurs about international trade requirements and modern business practices.
He said that Pakistani exporters are facing severe competition in the international markets and preparedness of the industry on such important subjects would help in their growth. To enjoy the benefits of market access, preferential concessions by the developed countries and FTAs would not be possible without preparing industry on compliance to international standards and technical regulations.
He said that producing products as per laid down product standards and technical regulations under WTO regime has become inevitable as otherwise the trade under market access negotiations with the developed countries would only be one sided, which would be detrimental for export and overall trade balance. Compliance to International standards and technical regulations would also help improving the quality of Pakistani goods both for foreign and domestic markets, bring value addition and sophistication in the goods being produced and to help in increasing exports. He also informed that the Domestic Commerce Wing is working to streamline the domestic trade and industry to make it more competitive with respect to standard so that it not only caters for the domestic demands but also produces sophisticated and qualitative products for international markets.
The pilot project "Production of goods as per laid down products standards and technical regulations for domestic and foreign markets" initiated by the Wing would enable the industry to supply the goods as per laid down standards.
At the end of presentation Ahmad Zaman Khan explained the technical parts of the questionnaire developed by the Domestic Commerce Wing to collect the information from firms about compliance of product under the pilot project initiated on the subject. Ahmad Zaman Khan conducted the seminar. In the presentation he informed the participants of the seminar that the international trade has become increasingly complex as developed economies are focusing more and more on bringing value addition and sophistication in products for their consumers.