ISLAMABAD – The DG trade policy said a review of free trade agreements (FTAs) with two countries and signing of FTAs with more countries were on the cards with the objective of reviving exports under the new trade policy.
FTAs with China and Indonesia are being reviewed these days whereas talks have been going on with Turkey and Thailand for free trade deals which are believed to give a boost to trade with them.
Besides, Pakistan is searching for new markets in countries and regions like Australia, China and Africa. “Look Africa Plan and Emerging Pakistan are some of the initiatives of the Ministry of Commerce,” he said.
Commerce Secretary Dagha said the new trade policy would promote meat exports and in that regard the government would soon announce a package for the poultry industry.
The policy will also promote those sectors that have been under pressure due to liberal imports like that of steel.
He pointed out that the government had addressed exporters’ concerns through rupee depreciation against the dollar in December 2017 when the State Bank of Pakistan let the rupee weaken 4.8% to Rs110.64.
The depreciation, along with the Rs180-billion PM export package, has started reviving exports and the trend may continue in coming months.
Initial reports suggest the growth in exports (in December 2017) was much better (than the 10-11% average so far this year),” he said.
