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Islamabad, In a concerted effort to boost Pakistan’s export sector, Prime Minister Shehbaz Sharif has directed the formulation of new trade policies that focus on enhancing the competitiveness of Pakistani exports.
According to Ministry of Information and Broadcasting, during a meeting dedicated to trade-related matters, the Prime Minister called for the development of a trade policy that supports business ease and encourages the export of non-traditional items. He stressed the importance of consulting with the private sector to shape policies that facilitate trade and business operations.
Further directives included ensuring timely reimbursement of duty drawbacks to exporters and implementing a deletion policy to advance the country’s automotive sector. The Prime Minister also outlined plans for a comprehensive strategy to assess the performance of trade and investment officers stationed in Pakistani embassies globally and committed to bi-monthly reviews of the export sector himself.
The meeting also touched on advancing Free Trade Agreements with Gulf countries and activating corridor trade agreements with Uzbekistan and Tajikistan, which have shown positive outcomes. Additionally, discussions are ongoing for Preferential Trade Agreements with Azerbaijan and Afghanistan, and there is potential for barter trade with Iran and Russia. The session concluded with updates on the near completion of the Gem Export Framework and consultations on a new strategic trade policy, signaling robust efforts to reinvigorate Pakistan’s trade and export sectors.