Traders for removing hurdles to boost regional grade

PESHAWAR: Traders on Saturday stressed the need for taking steps to remove hurdles in order to boost regional trade. They were speaking at the joint meeting of the Sarhad Chamber of Commerce and Industry (SCCI), Women’s Chamber of Commerce and Industry Peshawar and officials of Trade Development Authority of Pakistan (TDAP) at the Chamber House.

The members of the business community also called for boosting trade with the Central Asian Republics to enhance export and earn foreign exchange to stabilize the economy.

The traders said that Pakistan was losing huge foreign exchange owing to impediments in the way of regional trade.

SCCI president Hasnain Khan Ahmad presided over the meeting. SCCI senior vice president Imran Khan Mohmand, vice president Javed Akhtar, former president Faiz Muhammad Faizi, former senior vice president Engr Manzoor Elahi, President of Industrialist Association Peshawar (IAP) Malik Imran Ishaq, executive member Ejaz Khan Afridi and Sohail Javed, Aurangzeb Khan, WCCI’s president Shahida Parveen, TDAP Peshawar Region Director Sabz Ali Khan, Assistant Director Zahid Khan, Director Islamabad Ishaq Shinwari, AD Ayaz Muhammad, Small Industrialist Association president Arif Wahid Awan and others attended the meeting.

The participants in the meeting attributed Pakistan’s widening trade deficit to lack of capturing regional markets. The speakers expressed the fear that the country could go bankrupt if the regional market were not exploited. They added it had become difficult to do business in the prevailing circumstances.

The participants urged the government to take measures to remove impediments and streamline trade with regional countries and ease difficulties of traders, particularly exporters.

TDAP Director General Naseer Ahmad said the government and his institute were committed to promoting regional trade.

He added the regional trade has been divided in three regions, including Africa Region, Central Asian Region and ASEAN region. He informed the meeting that TDAP would organise a single country exhibition in the Central Asian Region in October this year. He added a second single country exhibition would be held in December this year.

The TDAP Senior official invited the Khyber Pakhtunkhwa business community to participate in the exhibitions. Naseer Ahmad agreed with proposals of members of chambers, particularly women entrepreneurs’ suggestions for holding training sessions for brand promotion, joint exhibitions and other issues.

The senior official assured to resolve problems of the traders community and issues essentially relating to regional trade in the light of their proposals.

The TDAP DG stressed the need for establishing long-term collaboration and liaison with chambers/business community and launching of joint ventures, training programs and joint trade facilitation steps.

Hasnain Khurshid called for the effective role of commercial attaché and counselors posted in foreign missions to capture central Asian markets in an efficient manner.

He urged the State Bank of Pakistan to give loans to exporters to exploit investment potential and opportunities in regional countries. The SCCI chief proposed the signing of free trade agreements with Afghanistan and Central Asian Republics in order to earn foreign exchange and stabilize the economy.