‘Pakistan ready to reap all benefits of CPEC ‘

LAHORE: Trade Development Authority of Pakistan (TDAP) is endeavoring to support and assist the business sector to help improve the quality and value of the products.

This was stated by Shazia Akram, Director General, Trade Development Authority of Pakistan (TDAP), Sub Regional Offices while talking to a 21-member delegation of officers from 22nd Senior Management Course (SMC) who visited TDAP Lahore here Thursday.

The DG said that TDAP was carrying out all efforts to help the business community enhance their business potential through their effective participation in the international exhibitions and delegations.

“Awareness seminars and workshops are also being arranged by the TDAP to educate the entrepreneurs about the latest trends regarding the global trade markets and to make them sensitize about the trade potential which exists in the distant markets of the world”, she added.

Earlier, Deputy Director TDAP, Asmma Kamal, gave a detailed presentation on the working of the TDAP.

It was observed during the meeting that Pakistan was facing challenges in enhancing the export growth due to global slump in GDP, lack of product and market diversification and low investments.

The officers asked various questions regarding the decline in exports of the country and shared their valuable opinions for improvement in export sector.

The DG TDAP (SRO) was assisted by the Directors’ TDAP Usman Qureshi and Muhammad Irfan alongwith other senior officers, while the visiting delegation was led by their Chief Instructor National Institute of Management (NIM) Peshawar Mirza Khalid Amin.

Meanwhile, An exploratory study conducted by the Small and Medium Enterprises Development Authority (SMEDA) has identified 45 high-potential products to explore the export opportunities under China-Pakistan Economic Corridor (CPEC).

According to the study, 13 items out of the 45 products, fall in the category of High Value Exports (HVE), 15 in Medium Value Exports (MVE) and 17 in the Low Value Exports (LVE) category.

The 13 products of HVE category include meat, fish, mangoes, chromium ores and concentrates, medical instruments, marble, footwear, rice, milk and cream, granulated sugar, denim, ethyl alcohol and footballs. Similarly, the 15 products categorised as MVE include maize, milk and cream solids, bananas, leather handbags, plastic/ textile material handbags, polyethylene terephthalate, sweet biscuits, modified polystyrene, safety razor blades, frozen orange juice, natural honey, frozen fish, frozen edible Bovine offal, butter milk, butcher Knives and hunting Knives.

Whereas the list of 17 products categorised as the LVE include bran, articles of leather, paints and varnishes, articles of stone, folding cartons and boxes, coats and jackets, hydrochloric acid, tools for masons/ watchmakers/ miners, crates and similar articles of plastic, ballpoint pens, vegetable products, fruit seeds for sowing, articles of wood, clover seeds for sowing, shelled almonds, hide and skin of goats and crabs.

Commenting on the study, Sher Ayub Khan, the Chief Executive Officer of the SMEDA, said that the given trade potential had been identified by adopting a three-pronged approach which included detailed analysis of Pakistan’s trade with China, focus group discussions and stakeholders input in terms of a short survey.

He hoped that outcome of the study would help the business community of Pakistan especially SMEs to strengthen economic integration with the world’s largest trading nation, China.

The CEO SMEDA informed that during the past few years, Pakistan’s imports from China had increased disproportionately compared to Pakistan’s exports to China. He said that China imported a total of 5,578 types of products from around the world in 2015. Therefore, Pakistan can easily increase its exports to China through mutual understanding and consent.

Sher Ayub said and envisaged that Pakistan’s global trade share, under CPEC, would increase to an optimal level. But, we will have to adopt an approach which can lead to a reduction in the prevalent trade deficit, he added.

He maintained that a good starting point in this regard had been set by the SMEDA through study of the export supply capacity and import demand ability of the country by identifying products line and trends.