ISLAMABAD: Federal Commerce and Textile Minister Mohammad Pervaiz Malik on Friday said the government had evolved a comprehensive strategy for enhancing exports and come out from the trade decline.
Prime Minister Export Enhancement Package had left positive effects on the country’s export and trade when it started giving funds to the exporters by February last, he said while holding a press conference at the ministry.
He said the Rs180 billion packages granted to industries starting February 2017, would be continued till mid 2018 in shape of duty drawbacks to different sectors.
“We are negotiating on the free trade agreement (FTA) with different countries and most of the negotiations were nearing final agreement, including the Pakistan-China FTA Phase II and FTA with Thailand,” the minister added.
Pervaiz Malik said Pakistan was looking at new markets for diversification in foreign trade to enhance the exports for economic growth.
He said Indonesia had unilaterally agreed on concession for 20 top export items to Pakistan during bilateral negotiations under the preferential trade agreement (PTA).
Both sides discussed 20 tariff lines and Indonesia agreed to give concession on major exports from Pakistan, including zero percent tariff on tobacco, textile fabric, rice, ethanol, citrus (kinnow), woven fabric, t-shirts, apparel, and mangoes during renegotiation on preferential trade agreement, he said.
Replying to a question on generalised system of preferences (GSP-Plus), the minister said, “We are working on GSP-Plus according to structural framework and all 27 conventions would be addressed to get GSP- Plus status again.”
Commerce Secretary Younas Dhaga said before PTA, Indonesia granted only two months for export of Pakistan’s citrus and mangoes, but now after renegotiation, Pakistan could export those fruits to Indonesia for the whole year.
Replying to a question, he said Pakistan and Indonesia had current annual trade volume of $170 million which was expected to increase after renegotiation on PTA between the two countries.
He said the Indonesia-Pakistan preferential trade agreement was signed in February 2012.
He said countries including Japan, Indonesia, Vietnam, Kenya Philippines in Pacific region were also in the list for starting dialogue on the preferential trade agreement leading towards FTA for promoting trade liberalisation.
Commerce secretary said Pak-China FTA Phase II talks were progressing smoothly in a highly cordial and cooperative atmosphere. Both sides successfully concluded the 8th round led by him, in which a breakthrough was achieved in the shape of China’s assurances to favourably address Pakistan’s concerns in Phase II.
Pakistan was able to convince China to revise the bilateral safeguard chapter of the FTA, which would be helpful in protecting the local industry.
The preparatory work for the next round in February 2018 is on track and the two sides are frequently consulting each other to reach a mutually beneficial conclusion at the earliest.
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