KARACHI – Pakisan has revised its export target for financial year 2010-11 and setting the bar at $22billion from an earlier target of $20 billion. This decision has been prompted in view of the record breaking exports exhibited the last three months, culminating in an the garnering of $2.329 billion in January 2011, which is 38.2 percent higher than the level of $1.685 billion seen in the corresponding period last year.
This was stated by Federal Minister for Commerce Mukhdoom Amin Fahim while addressing media personnel. In his opening remarks, he thanked the president and the prime minister of Pakistan for reposing confidence in him by entrusting him with the portfolio of the minister for commerce. On reassuming the portfolio, he chaired a meeting in the Ministry of Commerce, Islamabad to review the performance of the ancillary departments of Ministry of Commerce, including Trade Development Authority of Pakistan (TDAP).
The federal minister briefed the press of the body’s performance over a period of three years and highlighted major achievements. He expressed confidence that if the current momentum in the growth of export was sustained then exports might very well cross the target of $22 billion in the financial tear, exceeding original targets by a significant margin. The year-on-year growth would be 14 percent over the achievement of $ 19.313 in FY 2009-10. The Minister also informed that exports during the seven months of FY 2010-11 (July-January) were $13.279 billion against $10.784 billion thus registering a growth of 23.1 percent over the same period of last year.
He went on to say that the Government of Pakistan has declared 2011 the “Year of Exports” and “60 Years Friendship between China and Pakistan”. In order to achieve this objective, TDAP has planned to enhance its export promotion activities around the globe with special emphasis on China and Japan adding to the already strong regional focus of the TDAP’s activities.
In China, TDAP is planning to participate in 20 international trade fairs, which would be effectively double the number of exhibitions; the authority participated in the previous year. These exhibitions will be complimented with B2B and business forum meetings. In addition, 10 product category specific delegations will visit China and similarly 10 buying missions will be invited from China.
For Japan, TDAP will participate in a number of international events relating to home textile apparel, garments and food products including mangoes. The Japanese government has recently lifted the ban on the import of Pakistani mangoes and TDAP is engaging consultants for setting up VHT plants at Karachi and Multan to fully avail the market access opportunities which are made available due to lifting of ban.
APP adds: Commerce Minister Amin Fahim has said that seventeen routes through Afghanistan have been identified with trucks tracking system for export of goods which would benefit the economy. This was stated by Makhdoom Amin Fahim in his maiden press conference after taking oath in the new Federal Cabinet here. He also said that European Union (EU) has announced unilateral tariff concessions on 75 items for Pakistan and decided that it would put up the case before World Trade Organization (WTO) for approval.
The minister expressed his hope that this would help Pakistan penetrate European markets and garner significant export orders for the benefit of the country. The minister said that negotiations with the US are also in progress. He revealed that future efforts will be implemented to help those affected by floods in the Reconstruction Opportunity Zones (ROZ) to benefit them.
He was flanked by Secretary Commerce Zafar Mehmood and the heads of allied departments of the Ministry. Amin Fahim also lauded the performance of the officers and staff of the Ministry.
