ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Monday directed the government to make increasing exports a cornerstone of Pakistan’s economic growth and to prepare more sectors for access to international markets.
Chairing a review meeting on increasing the country’s exports and accelerating economic development in Islamabad, the prime minister emphasized the need to diversify trade by involving a greater number of sectors and industries in export activities.
Shehbaz called for effective measures to bring Pakistani products in line with international standards, strengthen quality assurance systems and ensure full compliance with global standards and regulations.
The prime minister also stressed the importance of value addition in exports to enhance the value and competitiveness of Pakistani products in international markets.
He directed authorities to promote modern technology, research and innovation in export-oriented industries.
He further instructed relevant authorities to make full use of digitalization and modern technology to align the national economy with contemporary requirements.
Administrative and business hurdles faced by exporters should be removed, while the export process should be made easier, faster and more transparent, he added.
The meeting was briefed on progress in implementing the approved strategic roadmap for promoting exports. Various proposals concerning access to new international markets, diversification of export sectors, improvement in product quality and business facilitation were also reviewed.
The participants also held a detailed discussion on improving the global competitiveness of Pakistan’s export-oriented sectors.
The briefing noted that steps were being taken to negotiate free trade agreements and preferential trade arrangements with several friendly countries to expand the international market access of Pakistani products.
Authorities are also working to increase the inclusion of Pakistani horticultural products in the country’s exports. Efforts are underway to encourage Pakistani exporters of surgical and medical equipment to participate in international hospital tenders and procurement processes.
The meeting was further informed that exhibitions, including TEXPO, the Health Engineering and Minerals Show, FoodAg and other sector-specific events, were being organized in different cities to introduce Pakistani products to international companies.
Work is also underway to align intellectual property laws with modern requirements to promote innovation in exports, the briefing said.
The restructuring of the Export Development Fund (EDF) has been completed, while further measures are being taken through the fund to facilitate the business community.
Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, Federal Ministers Rana Tanveer Hussain, Jam Kamal Khan, Dr Musadik Masood Malik, Ahad Khan Cheema and Muhammad Aurangzeb, Prime Minister’s Adviser Haroon Akhtar, Minister of State for Finance Bilal Azhar Kayani and senior officials of relevant institutions attended the meeting.