Federal Minister for Trade Makhdoom Amin Fahim Monday said the law and order situation and power crisis across the country has had a negative impact on the overall trade.
Announcing the new trade policy 2009-12 here, Makhdoom Amin Fahim said the law and order situation will be improved and electricity crisis overcome in order to achieve the set targets.
Earlier today, the Federal Cabinet gave approval to the Trade Policy 2009-12.The Cabinet meeting was presided over by Prime Minister Syed Yusuf Raza Gilani.
The total imports of the country stood at 34.9 billion dollars in the last fiscal. The imports slashed by 13 percent and exports by 7 percent in the previous year.
The global economic growth shrunk by 9 percent as a result of world recession which also had its negative impact on Pakistan’s trade.
Textile exports decreased from 10.1 billion dollars to 9.6 billion while garments exports reduced by 21 percent.
Makhdoom Amin Fahim said exports of engineering goods recorded a 26 percent rise. Exports of gems and jewelry increased from 213 million dollars to 280 million.
He said the government has held consultations with all the stakeholders at a difficult time.
Steps will be taken for the capacity of building of local industries under the new trade policy, he said, adding “technological development be undertaken for enhancement of exports of unconventional goods.”
He announced that investment will be made in 10 sectors under Entrepreneur Fund.
Trade diplomacy will be enhanced through Doha development agenda for gaining better access to international markets including those of the US and Europe.
Announcing the new trade policy 2009-12 here, Makhdoom Amin Fahim said the law and order situation will be improved and electricity crisis overcome in order to achieve the set targets.
Earlier today, the Federal Cabinet gave approval to the Trade Policy 2009-12.The Cabinet meeting was presided over by Prime Minister Syed Yusuf Raza Gilani.
The total imports of the country stood at 34.9 billion dollars in the last fiscal. The imports slashed by 13 percent and exports by 7 percent in the previous year.
The global economic growth shrunk by 9 percent as a result of world recession which also had its negative impact on Pakistan’s trade.
Textile exports decreased from 10.1 billion dollars to 9.6 billion while garments exports reduced by 21 percent.
Makhdoom Amin Fahim said exports of engineering goods recorded a 26 percent rise. Exports of gems and jewelry increased from 213 million dollars to 280 million.
He said the government has held consultations with all the stakeholders at a difficult time.
Steps will be taken for the capacity of building of local industries under the new trade policy, he said, adding “technological development be undertaken for enhancement of exports of unconventional goods.”
He announced that investment will be made in 10 sectors under Entrepreneur Fund.
Trade diplomacy will be enhanced through Doha development agenda for gaining better access to international markets including those of the US and Europe.
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