LAHORE, March 14: Export Promotion Bureau chairman Tariq Ikram on Tuesday said the draft law on establishing Trade Development Authority to replace the EPB will be sent for the federal cabinet’s approval next month.

Talking to reporters after a meeting of the managing committee of Expo 2006, he said the law was being drafted, adding the TDA was expected to become functional within the next two years. He said nine TDA executive directors had already been appointed.

He said no EPB employee would be retrenched, and those wanting to shift to the TDA would be trained for their new assignments.

He hoped Pakistan would achieve the export target of $17 billion for the current fiscal year. He said the government had set up a warehouse in Kenya to facilitate exporters in stocking their goods. The warehouse will be inaugurated on March 21. He said the government would pay the rent for that facility.

He said the EPB had focussed on new markets in Africa and Eastern Europe as a policy to diversify Pakistan’s export market base. He said the setting up of the warehouse was also part of that strategy. He said Pakistan’s exports to Africa had grown 100 per cent and to Eastern Europe 326 per cent.

He said all arrangements had been completed to hold the Expo 2006 in Karachi from March 29 to April 9. He said some 400 exhibitors would set up their stalls at the Expo, which is expected to be visited by 800-1000 foreign buyers.