Government of Pakistan

Ministry of Commerce

Pakistan

Publish Date : 8/16/2006 2:56:00 PM Source : APP

PM asks commerce ministry to prepare strategy to achieve
$ 18.6 billion export target

ISLAMABAD, Aug 15 (APP): Prime Minister Shaukat Aziz Tuesday asked the Ministry of Commerce to prepare a strategy and make an all out effort to achieve export target of $ 18.6 billion for current financial year.

Chairing a meeting here at the PM House this evening to review the goals and targets of the Ministry of Commerce, the Prime Minister outlined finalization of Reconstruction Opportunity Zones (ROZs) programme, better market access, export diversification, revamping of insurance sector, restructuring of National Tariff Commission and the setting up of Trade Development Authority as major focus areas for the ministry.

The Prime Minister appreciated the initiatives taken by the Ministry of Commerce on trade diplomacy.

He said the Ministry should continue to make efforts for better market access and product diversification and it should create opportunities for entrepreneurs to profit from their innovations resulting from a liberalized and fair trade regime.

The Prime Minister said the Ministry of Commerce should develop, strengthen and modernize Pakistan's trading regime and practices, so that these are in line with the needs of contemporary systems of international trade in goods and services.

He appreciated the setting up of Trade Development Authority and said the ministry should ensure that it is evolved into a dynamic, vibrant organization fully geared to make focused efforts to enhance exports.

The Prime Minister emphasized the need to expedite development of insurance sector, the revamping and restructuring of National Tariff Commission and the up- gradation of Pakistan School of Fashion Designing.

Secretary Ministry of Commerce in his presentation highlighting their achievements said country achieved export target of US $ 16.468 billion in 2005-06.

He also mentioned ratification of Preferential Trade Agreement (PTA) with Iran, signing of Early Harvest Programme (EHP) with China and Malaysia, operationalization of Preferential Trade Agreement with Sri Lanka and reduction of EU anti-dumping duty on bed linen from 13.1% to 5.8%.

The meeting was attended among others by Minister for Commerce, Humayun Akhtar Khan and senior officials.

Source: http://www.commerce.gov.pk/read.asp?newsID=158