Federal Commerce Minister Naveed Qamar has said that Pakistan has adopted a diversified modus operandi to improve its export outlook and initiated the ‘Look Central Asian States policy’ to capture more markets.
Qamar hoped that Pakistan would succeed in ensuring the continuation of the GSP Plus facility from EU countries for exports. The EU market is of paramount importance for Pakistan. The GSP Plus facility has a major role in exports to EU countries.
According to him, the cotton production estimates have tumbled to 6 million bales after the catastrophic flood, and Pakistan’s textile industry needs 14 million bales for its export products. He said that Pakistan’s textile industry has to import cotton of $2-3 billion. “After inking a preferential trade agreement (PTA) with Uzbekistan, trade agreements with Kazakhstan and Kyrgyzstan are also on cards,” Federal Commerce Minister Naveed Qamar said.
It may be noted that Uzbekistan’s Namangan region Deputy Governor Inamov Okibjon had led an Uzbek delegation to the All Pakistan Textile Mills Association some two years back. He had pointed out at that time that the Uzbek investors are keen to enhance cooperation in various fields of business, including the textile sector. He said the Uzbek businessmen have already invested in Pakistan, and they are planning to increase it further. He had also invited APTMA members to visit Uzbekistan and benefit from the opportunities through joint ventures with their Uzbek counterparts.
Also “Look Africa policy” adopted in the previous tenure will continue as it has started giving dividends to Pakistan in terms of making inroads into the vast markets of African countries. The minister said that Kazakhstan is a rich country and that a trade agreement with it will benefit Pakistan. “Also with Kyrgyzstan, the trade deal is nearing completion.”
