The grant of GSP plus status to Pakistan by the European Union has opened up new opportunities for improving exports and private sector should accelerate its efforts for achieving US$ 30 billion export target to reap full benefits of this facility, said Shahzad Hussain Rana, Director General, Trade Development Authority of Pakistan while exchanging views with business community at Islamabad Chamber of Commerce & Industry.
He said they had to strengthen the supply side to facilitate the exporters. Dilating upon Pak-India trade potential, he said currently trade was in India’s favour, however Pakistan had good potential to increase trade with India if India removed all technical barriers which were acting as main hindrance in promoting trade up to the real potential.
Shahzad Rana said with the increase in per capita income in China, labour cost of the country had gone up while Pakistan offered cheap and quality labour which could be an important factor to attract Chinese investment. He said Pakistani entrepreneurs should further strengthen their contacts with Chinese counterparts to woo them to invest in Pakistan. He said peaceful environment in Pakistan would greatly help in attracting more Chinese investment to the country. He assured that TDAP would provide cooperation to the ICCI in its initiatives aimed at improving country’s trade and exports. Both sides discussed areas of collaboration to promote Pakistan’s economic interests with joint efforts.
