Rapid-Exports Growth Strategy’ developed to promote exports
LAHORE: President Gen Pervez Musharraf viewing the model of Expo Centre during the foundation stone laying ceremony of Expo Centre.
COMMERCE Reporter
LAHORE - President Gen Pervaiz Musharaff has said that a comprehensive plan ‘Rapid-Exports Growth Strategy’ has been developed for promotion of exports focusing trade diplomacy.
Addressing at foundation laying ceremony of Lahore Expo Centre here Monday he said that the five pillars of the Rapid Export Growth Strategy were being followed to improved market access through trade diplomacy, and new FTAs and PTAs with selected priority countries, focusing on neglected Regions and countries like Africa, Latin America, Eastern Europe, Central Asia and the Far East would be pursued.
However, the President said that value-addition was one of the important areas which stayed ignored, which needed attention for maximum exploitation of country’s export strength in various sectors.
He said that Pakistan was the fifth largest producer of milk , but in dairy and other milk products it stood nowhere at international level. I know work is being done in this sector for value addition of milk products, but ‘it is slow, which needed to move at fast pace.”
The President said that Pakistan’s growth was one of the fastest rate of growth in Asia in virtually all sectors of the economy including manufacturing, agriculture, energy, telecommunications services and information technology.
“With realistic hope for peace in our region,” he added, “we will endeavour to sustain this positive trend through forging close economic partnerships with China, South Asia, Central Asia, East and West Asia, including the Gulf Region as well as our developed country partners.”
The President said these step helped in gradually yielding positive results with fiscal deficit reducing from double digit in 90s to around four per cent now by putting the economy on the right track. He said that exports figure was crossing 9 billion targets for the first time in the country’s history since 2001.
He said that Pakistan economy was now at an upsurge with the GDPO that has grown to 8.4 per cent last year and all the macro economic indicators positive and I don’t want to go in detail our industries doing exceptionally well or all our industries we have created an investor environment foreign direct investment is coming if you compare between 99 and today FDI has risen to 600 percent although the base was low and I am not satisfied with the 600% we are to be rising by thousand of percents my target so as far as the economy is concerned its revived its on upsurge and we will continue on this upsurge.
The President said that remittances and Foreign Direct Investment(FDI) had also performed unprecedented rise with remittances enhancing from around dollars 600 million in 1990-2000 to four billion dollars and FDI increasing from dollars 400 million to dollars 1.5 billion last year and target of dollars three billion for the current
Terming it one of the great achievements in the economic field, the President said that indicated that we were able to achieve economic growth following prudent policies coupled with better management of resources and country’s economic development, which, he said had nothing to do with 9/11 incident as some cynics seek to portray.fiscal.
In the export field, he said, focus was given to diversification of exportable markets and exploration of new markets instead of remaining limited to traditional markets of U.S and E.U.
Similarly, it was decided to give due attention to industrial growth side by side with agriculture sector as without it rapid growth of exports could not be achieved adding that it was with this objective in view that Export Promotion Bureau was reinvigorated and Ministry of Commerce strengthened to play due role in this regard.
He said that strengthening of trade promotion infrastructure of the Government including the EPB and the trade offices abroad while improving skill development and productivity through provision of? large scale training.
He said the strategy also envisages active role in promotion of exports by trade representative aboard; increase in productivity through upgradation of technology and improvement of human resources through training ; development of infrastructure and value addition.
Similarly in agriculture sector, he said “ Our vegetables and fruits are excellent and of good flavour and taste. But we don’t have processing facilities and we need to develop the same rapidly.”
He said , “We have vision and we will keep on rising by exploiting our resources. We are committed to fully benefit from our location and serve as energy and trade corridor”, he added.
Commerce minister, Humayun Akhtar khan speaking on the occasion said that since trade diplomacy was one of the major functions of the Ministry of Commerce, ‘we are intensively interacting with other governments to obtain additional market access for Pakistani exports.
In this context he said that they had initiated discussions and negotiations with a number of countries for concluding Preferential Trade Agreements (PTA) or Free Trade Agreements (FTAs). He said that first FTA had become operational with Sri Lanka this year, and we have concluded a PTA with Iran and also signed an Early Harvest agreement with China as a prelude to an FTA. Apart from that, bilateral negotiations are underway with, Malaysia, Singapore, Indonesia, Turkey, Kazakhstan, Tajkistan, Morocco and Mauritius.
As far as regional bodies are concerned, we are working out preferential access arrangements in SAARC, ECO, OIC, D-8, Mercosur and GCC.
Given the importance of the EU market, the commerce minister said that had been a major focus of our trade diplomacy. He said that since the existence of an effective and well tuned trade promotion set up is required for the Rapid Export Growth Strategy to succeed.
Sign In
Register
Help
MultiQuote
Posted 05 August 2006 - 06:23 PM
