Regional trade integration must for increasing export: Razak dawood

Jan 12, 2022: Adviser to Prime Minister on Commerce and investment, Abdul Razak Dawood on Wednesday said the regional trade integration was necessary for increasing the local export to achieve the agenda of economic growth.

Economic growth can be strengthened by promoting regional trade through regional economic connectivity, the adviser said this while addressing on the occasion of International Chambers Summit 2022 organized by Rawalpindi Chamber of Commerce and Industry (RCCI) here.

Recently a Transports Internationaux Routiers (TIR) or International Road Transports agreement had been signed with Uzbekistan, he informed.

Razak Dawood said that after signing the TIR agreement with Uzbekistan, now both sides’ trucks would be able to reach Pakistan directly from Uzbekistan.

He said that the market in textiles accounts for 60% of our exports.

For product diversification in trade “We need to focus on other sectors, especially pharmaceuticals, agri-products, engineering, and Information Technology (IT) to increase their share in domestic exports.

The adviser said the July-December export figures are encouraging and now “We achieved $15 billion worth of exports in the last six months."

He said that the Rawalpindi Chamber of commerce and Industry deserved congratulations for holding the Chambers Presidents Conference and now it had become a regular event.

He said that proposals for the coming budget 2022-23 should be sent by the first week of February.

APP