RAWALPINDI: Special Adviser to the Prime Minister on Trade and Commerce Abdul Razak Dawood said that the government was keen to pursue the Look Africa policy and explore new markets and product diversification.

Addressing the Virtual International Trade Forum organised by Rawalpindi Chamber of Commerce and Industry (RCCI), he said: “The government is giving many incentives to Pakistani exporters. Regulatory duties, customs duties and tariffs on many products have been reduced to boost trade with African countries. Now, Pakistan has started exporting microwave ovens and refrigerators to African countries. The pandemic has caused problems, but compared to other countries, Pakistan’s exports have declined by only six percent, while in other countries it is in the double digits.”

Ministry of Foreign Affairs Additional Secretary Ali Javed said that Pakistan’s ranking improved in the business facilitation rankings, Ease of Doing Business (EODB) and the chamber’s role in organising the forum in a short span of time was commendable. He emphasised upon improving the image of Pakistan, liaising with industry academia, promoting new sectors and products. The fastest growing economies in the world include five African countries, he added.

RCCI President Saboor Malik in his welcome remarks said that the forum was a continuation of the Africa Trade Forum organised by RCCI last year.

“The purpose of thetradeforum is to make the business community aware of trade and export opportunities in African markets. There is a need to emphasise on country specific policy and guidelines should be prepared for African destinations as every country has its priorities for exports & imports. A product and commodity specific approach should be introduced. Air-links, banking channels and tariff lines should also be improved,” he added.

Group Leader Sohail Altaf said that the auto-mobile sector should be prioritised as it was the only sector that can help in revenue collection and creating employment.

The forumwas attended by commercial and trade consular from Pakistan and abroad, officials from the commerce ministry and CEOs of companies.

“RCCI will be organising more events and our ultimate goal is to promote a positive image of the country and explore new markets and strengthen trade ties with countries,” Regional Trade Committee Chairman Khurshid Berlas said.

Published in Dawn, July 23rd, 2020