‘Trade diversification policy’ boosts country’s exports in non-traditional markets

82

Adviser to the Prime Minister on Commerce and Investment, Abdul Razak Dawood on Sunday said the government has fully implemented the trade diversification policy and is currently seeing an increase in Pakistan’s product and geographical exports in the global market.

The main objective of the government’s Trade Diversification Policy’ is to introduce new trade products of a country’s exports and to create new non-traditional markets at global and regional level to increase domestic exports, Abdul Razak Dawood told APP here.

For the last seventy years, Pakistan exports have depended on the traditional markets of ten countries, and local textiles have relied on only five markets, including the United States, China, European Union, the United Kingdom and Bangladesh, he said. The adviser said that Pakistan is currently in the process of introducing new markets and new prod-ucts in addition to traditional markets and traditional export products in which the present government has made great strides despite the Covid -19period.

The Ministry of Commerce has launched the ‘Look Africa campaign’ in search of new unconven-tional markets and did a lot of work on Central Asian markets, which has resulted in good exports.

He said that in addition, new industrial units are being set up to promote product diversification to boost domestic exports in information technology, light engineering including tractors, fisheries and electronics and mobiles.

Previous articlePakistan entrepreneurs must develop own brands: Kashif
Next articleKP, GB officers trained on utililising public resources efficiently