Pakistan celebrates achieving $25 billion exports

While celebrating the historic achievement in exports this year, the government on Monday has claimed that Pakistan has fetched the milestone of over $25 billion worth exports during July-June (2010-2011).
“Beside government support to enhance the country’s exports, credit goes to the businessmen who, despite of security and energy issues, have played their role to mark the historic figure,” Amin Fahim, Federal Minister of Commerce while addressing a seminar for celebrating the export achievement, here on Monday night at a local hotel.
He said that the 30 per cent growth in exports would definitely support the country’s economy. “For the first time, the country’s mango has also reached the US and Japan while the government is also in consultation with the concerned authorities of Australia and Canada,” the minister added.
Addressing the event which was organised by Trade Development Authority of Pakistan, Zafar Mehmood, Secretary Commerce, said that Pakistan and Indonesia have almost concluded the Free Trade Agreement (FTA) this year, while talks are underway with Gulf Cooperation Council (GCC) and others.
“It is the business community which did not let the flood-affected economy suffer and the fresh mark in exports is a great achievement,” he added.
Though the European Union’s proposals for unilateral market access and tariff concession could not achieve their results but the ministry had successfully convinced the EU to provide the facility. The government, he said was also trying to sign trade agreements with Vietnam, Iran, Malaysia, Turkey and others.
Addressing the seminar, which was attended by a large number of businessmen, heads and members of different trade bodies and associations, TDAP Chief Executive Tariq Iqbal Puri said that as per the plan of Prime Minister Yousuf Raza Gilani who has earlier announced that the year 2011 be celebrated as the year of exports, the country has crossed an export figure of $25 billion.
Though a huge portion of exports is attributed to the textile sector, non-traditional products have also supported the country’s foreign trade. The historic figure was achieved as a result of business community efforts and trade development programmes planned by the Ministry of Commerce and TDAP. Programmes focused on China, especially with regards to celebrating 60 years of Pakistan-China Friendship this year, enhanced trade ties with Central Asian States and commodity wise research were major initiatives taken by the authority, he added.
The forthcoming Expo Pakistan will be another important event which will invite hundreds of international buyers in the country.
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Senator Haji Ghulam Ali, who was representing the business community, said that the country would be achieving almost $40 billion in exports during the current financial year.
The business community which needs supervision with no technical hindrance at the government level has the capability to meet every target fixed by the government provided basic facilities at various industrial zones are available.
He said though fresh reduction in State Bank’s policy rate by 50 bps to 13.5 per cent was appreciable, business sectors would continue demanding the rate to be at a single digit value. He also criticised the Prime Minister, who cancelled his participation at the event at the eleventh hour, for not attending the seminar. It is worth mentioning here that the Prime Minister was scheduled to address the businessmen during the event.