PM calls for urgent steps to make exports more competitive

Prime Minister Shehbaz Sharif has called for urgent steps to make the country’s exports more competitive.

Chairing a review meeting on trade related matters in Islamabad, he said measures should be taken for exports of non-traditional items.

The Prime Minister emphasized developing such a trade policy that facilitates business. He said consultation should be held with the private sector to formulate policies regarding ease of trade and business. He noted the role of the private sector and industry is very important in the country’s development.

The Prime Minister directed to ensure timely payment of duty drawbacks to exporters.

He insisted that the deletion policy should be implemented for the development of the country’s auto sector.

The Prime Minister directed to prepare a comprehensive strategy to evaluate the performance of trade and investment officers posted in Pakistani embassies abroad.

Shehbaz Sharif said he will review the export sector twice a month.

The meeting was informed that talks on Free Trade Agreement between Pakistan and Gulf countries are in final stages while corridor trade agreements with Uzbekistan and Tajikistan have been activated with positive results. Stakeholders are being consulted on Preferential Trade Agreements with Azerbaijan and Afghanistan.

It was informed that both Iran and Russia have expressed their consent in principle for the operationalization of barter trade.

It was informed that four hundred and fifty business-to-business meetings were held at the recent Pak-Saudi Business Conference in Islamabad.

The meeting was informed that work on the Gem Export Framework is in the final stages.

The meeting was informed that consultation is taking place on the new strategic trade policy.