Pakistan’s exports up 14.23 percent in July

ISLAMABAD:Prime Minister’s Advisor on Commerce, Textile, Industries and Production and Investment Abdul Razak Dawood on Wednesday said that Pakistan’s exports had increased by 14.23 percent in July, 2019 as compared to same month of last year.

In term of dollar, the country’s export increased from $1.636 billion in July 2019 to $1.87 billion in same month of last year, the adviser said while addressing the press conference here at Commerce Ministry.

He further said that Pakistan’s imports from other countries also reduced by 18.39 percent during the month.

Replying to question, he said that China Pakistan ,Free Trade Agreement (CPFTA), comprehensive tariff policy, reforms in National Tariff Commission (NTC) and increase in local exports were the major hallmarks of his ministry in firth years of this government.

The adviser informed the media that during the month increase in exports was witnessed in various sectors including rice 71 percent, ready-made garments 17 percent, home textiles 14 percent, plastic goods 34 percent, chemicals 26 percent, mangoes 33 percent and footwear 24 percent.

He said that Afghanistan had offered the Preferential Trade Agreement (PTA) to Pakistan for enhancing the trade between the two countries.

He said that during the visit of President of Afghanistan, Muhammad Ashraf Ghani both sides discussed the issues of bilateral transit trade and the two sides also expressed willingness to increase the volume of bilateral trade.

“We are looking how to improve the model for increasing the transit trade with Afghanistan alike many countries including Nepal and Bhutan and also land locked countries as they had good trade relations with regional countries.

He said Pakistan, Ambassador to Afghanistan Shukrullah Atif Mashal invited him to visit Afghanistan and from August 20, “I would visit Afghanistan for sharing the agenda of bilateral trade and discuss to increase the transit trade between both sides.”

While the adviser said that Pakistan had successfully get the market access to the China, European Union (EU), Indonesia, Malaysia and other Association of South East Asian Nations (ASEAN) countries.

Razak Dawood said that “we are committed for getting the trade access in potential market in United States (US), Canada, Japan, South Korea and Australia to increase the exports.

Replying to question, regarding his recent visit of South Korea, he said that during his visit he engaged in dialogue with the Korean companies and they were willing to bring their investment in Pakistan in different sectors including textiles and Agriculture.

He said that Pakistan have been facing the trade deficit and balance of trade required in trade with South Korea as Pakistan’s exports to Korea were $ 300 million and imports were $ 600 million.

He said “we have arranged the business to business meeting with Korean investors and they are willing to make invest in Pakistan.”

He said that Pakistan also discussed to engage them in negation on Free Trade Agreement (FTA) which they signed with India, Vietnam, Bangladesh and Chile.

Both side decided for starting the working group meeting in coming October to see the venue for increasing the trade between both sides, he added.