The Express Tribune
Published Date: Mar 8, 2018
Experts urge ‘true’ implementations of trade policy
ISLAMABAD: Experts at a roundtable conference called for an operational strategy to implement the forthcoming trade policy.
The roundtable titled, ‘public-private policy symposium for achieving export competitiveness in Pakistan’, was organised by the Sustainable Development Policy Institute (SDPI) in collaboration with the World Bank.
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Speaking on the occasion, World Bank economist Enrique Blanco Armas said that trade through employment generation can propel the country towards a sustainable path of economic growth and development.
He said a poor business environment with an overvalued exchange rate, relatively weak trade facilitation and infrastructure and absence of value chains from the trade policy have resulted in a decline in Pakistan’s exports by 20% during the fiscal year 2011-17.
“Pakistan’s export performance in the past 10 years has not been stellar,” Armas said, adding that exports in goods and services rose by just 27.3% in Pakistan, whereas exports on average during the same period grew by 165% in India, 276% in Bangladesh and 445% in Vietnam over the period of 2005-16. Pakistan can strengthen implementation mechanisms of its rules and regulations through the introduction of Prime Ministerial and Presidential delivery units, who are tasked with monitoring micro-level targets, he added.
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SDPI Joint Executive Director Dr Vaqar Ahmed said the trade policy framework needed urgent recalibration in order to mitigate heterogeneous issues faced by exporters due to differences across provinces.