New trade policy to be announced soon: Razak

F.P. Report

LAHORE: Prime Minister’s Advisor on Commerce, Textile, Industry and Production, and Investment Abdul Razak Dawood said on Saturday that new trade policy would be announced soon.

He was addressing a seminar on ‘Trade opportunities in China, Indonesia and the United States of America’, organised by the Ministry of Commerce here at Expo Centre.

The ministry took this special initiative to maximise its outreach to business community. In this regard, all registered chambers and trade associations from across the country were invited to give their input in these consultative sessions.

Federal Commerce Secretary Muhammad Younas Dhaga and Trade Development Authority Pakistan (TDAP) Director General Riaz Ahmed were also present.

Razak Dawood said that new trade policy was being worked out in consultation with all stakeholders to make it more effective and fruitful. The new trade policy would be announced soon, he added.

He said that a committee had also been constituted to control de-industrialisation in the country, asserting that tariff policy would soon be presented before the federal cabinet for its approval.

PM’s advisor said that elaborative measures were being put in place to provide a platform to entire business community to share their views to resolve their issues.

“The present effort has been made to ensure the widest possible and inclusive coverage and to provide a platform to the business community to share their concerns and inputs to overcome the issues being faced by them,” he added.

He said that current sessions seek to focus not only on China but also mean to raise awareness about the opportunities emerging in Indonesia and the USA in the wake of recent developments in these markets.

Free Trade Agreement (FTA) between Pakistan and China was being deliberated upon, and in this connection the commerce secretary would pay a visit to China as well, he added.

He said that Pakistan Tehreek-e-Insaf (PTI) government was focused on maximum facilitation to country’s business community, enabling it to have level playing field in their respective sectors. He said that reforms package was aimed at encouraging the business community for more investment to enhance country’s exports.

PM’s Advisor was of the view that Pakistan would have to explore and add new sectors and markets for giving a big boost to exports. He said the government was all committed for jobs creation for the youth and vibrant export-oriented industry would help create job opportunities.

He called upon the business community to play its due role in the economic well being of the country and assured them of his full cooperation and support in resolving all their problems.

Speaking on the occasion, representatives of trade associations and chambers appreciated the outreach initiative of the commerce ministry. They highlighted the importance of incorporating stakeholders in the policy making process and market access negotiations. They said that they would continue to send their proposals to improve business environment of the country.

The business community’s leaders also appreciated the economic relief package, passed by the parliament a few days ago, and pinned high hopes on tariff rationalisation exercise of the commerce ministry.