Export target of $17 billion is expected to be met

BY Sajid Chaudhry

ISLAMABAD: Market access for enhancing country’s exports would be ensured through Trade Diplomacy and maximum Free Trade Agreements, Preferential Trade Agreements and Early Harvest would be initiated with the trading partners of Pakistan.

Diversification of exports and free imports and exports would be the basis of new trade policy 2006-07. The trade policy for 2006-07 came under review at a meeting chaired by Prime Minister Shaukat Aziz at the PM’s house on Thursday.

The meeting was informed that Pakistan would sign trading arrangement with a trading block comprising Argentina and Brazil and other countries in July and Free Trade Agreement is also expected to be signed with Gulf Cooperation Council Countries during this year. The meting was also informed that export target of $17 billion for fiscal year 2005-6 would be met.

The meeting was also informed that to ensure exportable surplus in the country the production would be enhanced, in this regards the a strategy is being evolved with the help of Planning Commission.

The Prime Minister gave certain directions about the trade policy. He said the main objective of the trade policy is to encourage free trade in the country and also to enhance and diversify our exports.

These objectives will result in increased foreign exchange earnings and the creation of income and employment opportunities, said the Prime Minister.

This was the second meeting chaired by the Prime Minister to finalize the trade policy before it is announced on July 17. A special meeting of the Cabinet will be held on July 17 to give approval to the trade policy.

An official who attended the meeting informed the meeting emphisized that reliance only on textile exports should not be a permanent feature and other deserving sectors should also be promoted through policy initiatives to increase their exports. Textile sector should be remained in main focus but other sectors should also be incentivised.

The participants of the meeting gave several suggestions to fine-tune the trade policy based on the feedback received from the private sector and other stakeholders.

The meeting was attended among others by Humayun Akhtar Khan, Minister for Commerce, Jahangir Khan Tareen, Minister for Industries and Production, Sikandar Hayat Khan Bosan, Minister for Food and Agriculture, Muhammad Nasir Khan, Minister for Health, Mushtaq Ali Cheema, Minister for Textile Industry, Dr Salman Shah, adviser to Prime Minister on Finance, Dr M Akram Shaikh, deputy chairman Planning, chairman EDB, chairman CBR, secretary commerce, secretary health, secretary industries; production, secretary Textile Industry, special secretary to Prime Minister and senior officials.

http://www.dailytimes.com.pk/default.asp?p...14-7-2006_pg5_6

Prime Minister clears new Trade Policy sans exports target
RECORDER REPORT
ISLAMABAD (July 14 2006): Prime Minister Shaukat Aziz has cleared the Trade Policy, 2006-07 with certain directions to encourage free trade and diversify exports, but did not fix exports target. Sources privy to the meeting told Business Recorder that Commerce Minister Humayun Akhtar Khan told the meeting that exports for the FY06 stood at $16.5 billion, $500 million below the target.

However, final foreign trade figures yet to be released by the Statistics Division, were already cleared by the Central Board of Revenue (CBR). Replying to a question, the sources said that export target for 2006-07 has not been discussed in the meeting in detail, but it would be in the vicinity of $18 billion, keeping in view the current pace of exports growth.

"It was proposed that exports target for 2006-07 should be $17.8 billion or $18 billion, but the prime minister said he would settle the issue with the commerce minister personally," the sources added.

Answering another question, they said that expansion of positive list to be traded with India was not part of the discussion and it would be considered by the prime minister and the commerce minister separately, adding the government may add 133 more items which have already been cleared by the ministries concerned and the private sector as well.

Asked, if any specific proposal was discussed at the meeting to give push to exports, the sources said there was nothing special to mention as it was the follow-up of previous meeting held three days earlier, in which the prime minister had given some instructions to the commerce ministry for the preparation of Trade Policy. Another official said the meeting agreed to allow import of used fire vehicles and trucks for garbage disposal, dialysis machines and milk processing units.

According to a press release, the prime minister said: "The main objective of the Trade Policy is to encourage free trade in the country and also to enhance and diversify our exports. This will result in increased foreign exchange earnings and generate income and employment opportunities."

This was the second meeting chaired by the prime minister to finalise t
he trade policy before it is announced on July 17. A special meeting of the Cabinet will be held on July 17 to give approval to the Trade Policy.

The participants of the meeting gave several suggestions to fine-tune the Trade Policy based on the feedback received from the private sector and other stakeholders.

The meeting was attended among others by Commerce Minister Humayun Akhtar Khan, Industries and Production Minister Jahangir Khan Tareen, Food, Agriculture and Livestock Minister Sikandar Hayat Khan Bosan, Health Minister Muhammad Nasir Khan, Textile Industry Minister Mushtaq Ali Cheema, PM's Adviser on finance Dr Salman Shah, Planning Commission Deputy Chairman Dr Akram Shaikh, EDB chairman, CBR chairman, commerce secretary, health secretary, industries and production secretary, textile industry secretary, special secretary to prime minister, and senior officials.

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