ISLAMABAD, Aug 15: Prime Minister Shaukat Aziz has asked the ministry of commerce to prepare a strategy and make an all-out effort for achieving the export target of $18.6 billion for the financial year 2006-07.

Chairing a meeting here on Tuesday to review goals and targets of the ministry of commerce, the premier outlined the finalisation of reconstruction opportunity zones (ROZs) programme, better market access, export diversification, revamping of the insurance sector, restructuring of the National Tariff Commission and development of the Trade Development Authority into a dynamic organisation as major focus areas for the ministry.The meeting was attended among others by Commerce Minister Humayun Akhtar Khan and senior officials.

An official announcement said the prime minister appreciated the initiatives taken by the ministry of commerce on trade diplomacy. He said the ministry should continue to make efforts for better market access and product diversification, and it should create opportunities for entrepreneurs to profit from their innovations resulting from a liberalised and fair trade regime.

Mr Aziz said the ministry should develop, strengthen and modernise Pakistan's trading regime and practices, so that these were in line with the needs of contemporary systems of international trade in goods and services.

The prime minister appreciated the setting up of Trade Development Authority and said the ministry should ensure that it was evolved into a dynamic, vibrant organisation fully geared to make focused efforts to enhance exports.

He emphasized the need to expedite the development of the insurance sector, revamping and restructuring of the National Tariff Commission and upgradation of the Pakistan School of Fashion Designing.

The secretary of ministry of commerce in his presentation said the country had achieved the export target of $16.468 billion in 2005-06. He also mentioned ratification of the Preferential Trade Agreement with Iran, signing of the Early Harvest Programme with China and Malaysia, operation of the Preferential Trade Agreement with Sri Lanka and reduction of EU anti-dumping duty on bedlinen from 13.1 per cent to 5.8 per cent.