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Pakistan witnesses a 5.5% The U.S.

increase in exports and $2 quickly

million trade orders rejoined

Good news for Pakistan as the country witnessed a 5.5 percent increase in exports and received trade orders
worth 2 million dollars, told Aliya Hamza Malik, Parliamentary Secretary for Textile, Commerce, Industries Agreement,
Production and Board of Investment.

By putting a ban on imported luxury items and trying to increase the exports out of the country, the a move that
government kickstarted Industrialization. The Ministry of Commerce set up a “Look Africa Policy” to
strengthen the trade ties with the Arab countries in Africa. Two new Commercial Sections in Egypt and Algeria
in 2020 were also set up. is highly
On the other hand, Abdul Razak Dawood, Adviser to Prime Minister for Commerce and Investment, notified
that trade order worth 2 million dollars were received by Pakistan companies and 3 million dollars’ worth of
deals were under process in the International Trade Fair held in Khartoum (Sudan). appreciated
“I am glad to share that as a part of the Ministry of Commerce’s Look Africa Policy initiative launched in 2017,
Pakistan has successfully participated in the International Trade Fair at Khartoum (Sudan) was held from by the World
January 21-28 2021” Razak Dawood said.

World leaders welcomed President Biden’s move to Markus Beyrer, director-general of BusinessEurope,
rejoin the Paris climate accord within hours of his
an umbrella organization for E.U. national chambers
ADB sanctions a 5-year partnership inauguration but meeting the U.S.’s commitments to of commerce, said, “It is obvious we will only be
successful globally if we have the major players on
reduce greenhouse-gas emissions promises to be
plan to recover and improve Pakistan’s challenging. board. The USA return “can bring us back on track.”
economic growth The Paris climate agreement is a joint effort to Last year, U.S. emissions were 21.5% below 2005
significantly reduce greenhouse gas emissions by
levels, according to a preliminary estimate by the
energy and economics research firm Rhodium
2050 in a bid to contain the rise in global
temperatures to no more than 2 degrees Celsius, Group, not on track to meet the country’s target of
A 5-year country partnership strategy (CPS) has been sanctioned by The Asian Development Bank (ADB) to and preferably to no more than 1.5 degrees, to limit 26% to 28% reduction by 2025—and 80% by 2050.
recover and rebuild the economic stability of Pakistan. Pakistan’s growth was stunted in the beginning of 2020 the impacts of climate change. Global emissions figures, including those of the
when Covid-19 was discovered and the pandemic took the world by storm. Several industries closed down U.S., fell sharply in 2020, mostly due to
resulting in people losing their jobs. Profits were compromised as the panic resulted in high prices. In all, the China and other nations have recently increased pandemic-related shutdowns of travel and
balance was toppled over. The aim of CPS is to put everything back into place by creating jobs and expanding their pledges to do more to tackle climate change. economic activity. They are expected to rebound this
economic opportunities, as stated in an ADB press statement. Corporations are heavily investing in the technology year as the arrival of Covid-19 vaccines helps
needed to run the global economy with fewer restore more-normal levels of economic activity.
The focus and priority of ADB will be on the three interlinked factors that will help the country grow. Economic greenhouse-gas emissions. But global emissions
management, improving the country’s human capital development and bringing positive competition in the continue to rise, and groups tracking progress While Mr. Biden faces challenges in enacting an
development of private sector which will be done through building livable cities, promoting renewable energy question whether many of the countries that have ambitious plan to reduce greenhouse gases,
and energy efficiency, and investing in rural infrastructure. signed the Paris agreement are currently on track to including a thin majority in Congress, the U.S.
hit the targets they set to reduce their share. Still, business community increasingly supports climate
“As with many countries in the region, COVID-19 has affected Pakistan, revealing the extent to which the with China, the European Union, and the U.S. all actions. Last fall, the Business Roundtable said it
population is exposed to economic and social vulnerabilities. The new CPS 2021–2025 will build greater focused simultaneously on this issue, there was supported the U.S.’s Paris commitment and
resilience of the population and help tackle Pakistan’s persistent structural challenges,” said ADB Director cautious enthusiasm that progress could be made. endorsed a price on carbon emissions.
General for Central and West Asia Eugene Zhukov.

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