Pakistan should enhance its exports with diversification

FAISALABAD (APP): Pakistan should make serious efforts to enhance its exports with diversification for maximization of its market share immediately after the post corona situation, said FCCI chairman Engineer Ahmad Hassan.

Chairing a meeting of the Faisalabad Chamber of Commerce and Industry (FCCI)’s standing committee, he said that predominantly the exports of Pakistan were textile based and there was dire need to switch over to diversification and to broaden country’s export base.

He said that Pakistan should adopt for joint ventures with technology transfer under the Industrial phase of CPEC particularly for agro-based products. He said that China imports food products worth $100 billion from allover the world. “Pakistan being an agrarian country should enhance its exports in the sector. “It is important to bridge the gap between import and export”, he added.

Engineer Ahmed Hasan said the world was adopting artificial intelligence in every sector of the economy and hence, “we should also prepare ourselves to adopt 4th generation technology to add maximum value and compete with the developed nations”.

He said that it was the time that Pakistan should concentrate on export development under the current world scenario as export orders were likely to shift to Pakistan, whereas, China was already cooperating with Pakistan in technological advancement.

“It is recommended that under the relocation plan of China, there is a better opportunity that such industries may be set up at the Special Economic Zone of Faisalabad”, he added.