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Pakistan focusing on new markets to boost trades

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Pakistan Trade Policies to Boost Trades
Pakistan Trade Policies to Boost Trades

The official from textile industry shared their word, on 17th of August 2017 that Pakistan is now focusing on exploring new markets, in different regions. The purpose for the haunt is to enhance and broaden the exports of the country.

While speaking with the media, the minister of commerce and textile Mr Pervaiz Malik said that in the global world of this date, economic relations and trade activities are the major component of diplomacy for keeping ties with the global as well as regional markets. He further explained that the government settled on prioritizing the enhancement of exports of the country and to achieve the trade targets for the ongoing fiscal year.

Mr Malik further said that they are focusing on the short medium and long-term strategies to boost the multilateral relationships with the potential markets, around the globe. Being an important part of the trade relationships, the EU is one of the top priorities for the government of Pakistan. Said Mr Malik that “According to the vision of Nawaz Sharif, we are committed to enhancing trade volume with EU and other regions of the world.”

As compared to 2013, the year 2016 had recorded an increase of about 60%in the exports of textile products to the EU. Malik further added that; the Pakistani rug and carpet exports to EU also increased from 30.30million euros in 2013 to 37.92 million euros in 2016.

Likewise, the Pakistan export of cotton and other raw materials that are for the value added textile had increased in the EU of about 9% in 2016 as compared to 2013. This indicates an increase consumption of raw materials by the downstream industry, said, Mr Malik.