ISLAMABAD – The Trade Development Authority of Pakistan (TDAP) Chief Executive Tariq Iqbal Puri said on Saturday that Pakistan’s exports would surpass the $20 billion mark by May this year. Addressing a news conference, he said that despite the energy crises, exports during December augmented by 19.69 percent to reach $2.12 billion, up from November’s exports of $1.77 billion. December, he said, was a record-breaking month in the country’s history and if the momentum is sustained, exports would cross $20 billion by May this year. “We will befittingly recognise the contribution of exporters once this mark is achieved.”
Pakistan’s exports during the July-December period of the current fiscal year jumped by 20.63 percent to reach $10.97 billion from $9.09 billion during the same period last fiscal, while imports during the first half boosted by 19.58 percent to reach $19.12 billion from $15.99 billion during the same period in the last fiscal year. He said that the government is focussed to boost exports to China, declaring 2011 as the year of exports. Pakistan and China are celebrating 2011 as the 60th anniversary year of establishment of diplomatic relations between the two countries. The two countries established diplomatic relations in January 1950 when Pakistan recognised China and later opened its embassy in Beijing. TDAP Chief Executive said that there is ample scope to increase textile exports, denim, fleece, trousers, home textiles, leather, marble and precious stones, marine and surgical products to China. “We are focusing on China as their middle class is on the rise and projections are that they will be the world’s number two economy in the next few years.”
Pakistan will participate in 25 exhibitions and will send 15 delegations during the year to explore Chinese market, he said, adding that their focus was on captive visitors in China to enhance exports. “Pakistan would be participating in Canton Fair in October 2010 with a large pavilion.”
He also claimed that the Ministry of Commerce was conducting a research to look at reasons of stagnancy in exports to China, despite a Free Trade Agreement (FTA). He disclosed that preliminary investigations indicate that subtler non-tariff barriers products, with zero tariffs under FTA, could not be exported to China. “We will be taking up these matters with China once the study is complete”.
On the European Union (EU) concessions, he said, the World Trade Organization (WTO) would hopefully approve these concessions in March. He stated that these concessions were unilateral and EU was making efforts to get them approved from the WTO. “Ministry of Commerce is also trying to replicate similar concessions from Canada, Japan and Australia”.
He said that the ban on fisheries exports by EU have not affected Pakistan, as exporters have explored new markets in the Middle East and Egypt. “The marine products of Arabia Sea have a superior taste than the Mediterranean or North Atlantic marine products. Our products have made a niche in new markets”.
