$22 billion export target to be easily met: Mukhtar

[Naveed Yaseen]

KARACHI: Federal Minister of Commerce and Defence Ahmad Mukhtar has said that despite rising cost of production and electricity charges, the country’s exports would continue to grow and easily achieve the target of $22 billion as previous three months saw export growth of 20 per cent.

He said though the textile sector recorded a decline of 4 per cent, other sectors’ exports rose by 24 per cent, resulting in an average growth of 20 per cent since July 2008.

Formally inaugurating Expo Pakistan 2008 at the Karachi Expo Centre on Monday, Mukhtar informed the audience that Reconstruction Opportunity Zones (ROZ) would receive an investment of $350 million in the next two to three months.

He stressed that there had been no cut in Trade Development Authority of Pakistan’s (TDAP) expenditures and the government would continue to support its efforts to promote exports. He especially threw light on the expanding role of small and medium enterprises in the country’s progress and said they should be encouraged so that they could expand their businesses abroad.

The minister said the government was exploring untapped markets for Pakistani products, particularly textile goods, adding adoption of WTO protocols would eliminate trade barriers and free trade agreements (FTAs) would no longer be required.

He was of the view that disturbance in tribal areas had not affected incoming investments in any way and in fact India would prove to be a potential market for Pakistani products in the years to come and therefore businessmen should concentrate on that sector.

He added the government was working on removing trade barriers with India which should help enhance trade with it. Mukhtar also said that foreign delegates, who participated in Expo Pakistan, would help improve Pakistan’s image across the world.

He suggested that exhibitions like Expo Pakistan should become a regular affair and all efforts must be made to ensure that they were held strictly on schedule to facilitate international delegates.

He said that attendance of over 600 international buyers from 55 countries, despite trade advisories from some countries, was testament to the peaceful and secure environment of Pakistan in general and Karachi city in particular.

Mukhtar was hopeful that the exhibition would end up attracting more than 1,000 international buyers and clarified that most of the buyers had come on self-finance basis.

http://www.thenews.com.pk/daily_detail.asp?id=143425