Pakistan does possess the potential for exports, and enjoys the edge in several products in the International market, but, needs a lot of hard work and policy incentives.
Pakistan needs to enhance regional trade to boost exports and earn valuable foreign exchange, local economic experts have said.
The full potential of Pakistan’s exports to regional countries has not been fully exploited yet. All stakeholders, including the government, need to access regional markets like Central Asia, said the experts while addressing a seminar organized by the Islamabad Chamber of Commerce and Industry on Saturday.
Speaking on the occasion, former President of the Federation of Pakistan Chambers of Commerce and Industry Zubair Ahmed Malik said that of Pakistan’s total export value of 25 billion U.S. dollars, 20 billion dollars goes to Western countries.
The Pakistani government should pay attention to regional markets where there is demand for Pakistani goods and then work with a coordinated policy, he said, adding that Central Asian countries could be significant markets for Pakistan’s textiles.
President of Lahore Chamber of Commerce and Industry Kashif Anwar said that the long-term solution to Pakistan’s economic problems lies in increasing exports.
The experts also underlined the need to remove trade barriers with regional countries, including the improvement of road, rail, and air links.
Reference Link:- https://english.news.cn/asiapacific/20240630/357809885cb24430ade6920b025c6823/c.html