ISLAMABAD, May 30: New Trade Policy for 2005-06 was discussed in the Inter- Ministerial meeting chaired by Commerce Minister Humayun Akhtar Khan here on Monday. Textile Minister Mushtaq Ali Cheema, Commerce Secretary Tasneem Noorani, State Bank Governor Dr Ishrat Husain, EPB Chairman Tariq Ikram and Planning Commission Deputy Chairman Dr Akram Sheikh attended the meeting. Representatives of all the four provinces and relevant federal ministries were also present.

Trade related key areas, i.e. marketing issues, quality and standard, diversification of exports, trade facilitation, reduction in cost of doing business, enhancement of export competitiveness, capacity building on the WTO, export of services, strengthening of quality infrastructure and general trade promotion were discussed at length.

Dr Ishrat underlined the need for developing sector specific industrial zones upon which the commerce minister elaborated various initiatives included in the Trade Policy 2004-05. The minister said that his ministry was deliberating upon setting up state-of-the-art training institutes to develop core sectors such as raw cotton yarn, garments, fabrics, towel, rice, leather, sports goods, surgical instruments, petroleum products, carpets, etc.

Developing sectors such as fisheries, fruit and vegetables, marble and granite, engineering goods, healthcare, poultry, IT software, gems and jewellery, services and chemicals also came under discussion. All the participants put forward their specific suggestions regarding the areas and sectors to boost exports.—APP