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Exports likely to cross $20bn mark by May: TDAP chief
* Puri says EUs ban on Pakistans fisheries exports has proved blessing as Pakistan has managed to create new markets in Egypt, Middle East
By Sajid Chaudhry
ISLAMABAD: The countrys exports are likely to cross $20 billion mark by May 2011 despite power and gas shortages.
Trade Development Authority of Pakistan (TDAP) Chief Executive Tariq Puri said this on Saturday while briefing the media men at the National Insurance Corporation Limited (NICL) building on trade initiatives of the government.
He, however, said that the total exports by the end of June 30, 2011 would be determined by the trade figures of the months of January and February 2011 when the impact of gas shortages in November and December would be visible in the exports figures.
Puri informed that its not necessary that gas and power shortages, which the manufacturing cities have faced during the last two months, would have a negative impact. He said that the countrys exports have witnessed a growth of 22 percent during July to December period with total exports of $11.2 billion and best exports have been witnessed in December when the total figure was recorded at $2.2 billion, highest after 1963.
He did not agree with the figures of $500 million or $800 million monthly export losses due to the gas and power shortages in the country and said that this figure would be visible when export figures of the next two months would be available.
He also disclosed that the European Unions (EU) ban on Pakistans fisheries exports has proved a blessing in disguise as Pakistan has managed to create new markets in Egypt and Middle East where volume of fisheries exports has increased from the annual exports to EU.
He also announced that he would strongly resist any measures including Reformed General Sales Tax on exports that TDAP feels would create a hurdle in the countrys exports. He was confident that zero-rating on exports would continue after imposition of RGST in the country.
The government has decided to celebrate 2011 as the year of exports and an export plan after finalising with all stakeholders would be presented before the Federal Cabinet soon as to make achieve a new height in exports of the country. All the government ministries divisions and private sector would be required under the export plan to play its due role in promotion of exports during 2011, he explained.
He said that country had crossed over $10 billion export mark in 2003 and after achieving this benchmark the government had recognised the performance of the individual exporters. When the exports will cross $20 billion mark by end May, individual exporters would be honoured.
Puri admitted that China is using non-tariff barriers to block Pakistani exports and Pakistani exporters despite having zero duty status on Pakistani exports are not able to make exports to China. A review of Pak-China Free Trade Agreement (FTA) has revealed this and the government would address this issue by holding consultations with the Chinese authorities, he added. He said that under the proposed export strategy to be approved by the Federal Cabinet, Pakistans prime focus for exports would be China as at present Chinese importers are importing raw materials from Pakistan and initiatives would be taken to meet the demand of China through value-added products instead of raw materials at present. He said that a roadmap for converting local raw materials into value-added products would be the part of the proposed export plan.
He explained that the increase in cost of production in China is compelling Chinese producers to quit from the clothing sector, which is creating new export opportunities for Pakistani exporters for those export products where Chinese dont have an edge on Pakistani exporters.
He explained that Denim trousers for men and women, fleece, knit and bed linen are the key products where Pakistani exporters would be able to create their own export market in China. He said that Pakistan to participate in Canton Trade Fair China scheduled from April to October where millions of buyers would visit and TDAP has decided to set up a huge pavilion in the fair to introduce its products to Chinese buyers.
He said that purchasing power of middle-class people of China is improving and soon they would become number two in the world for higher per capita income and this huge consumer market would help us meet their needs. Pakistan has the potential to export China textile and clothing, made ups, minerals, precious stones, leather, marine products, fish and value-added products of seafood, sports goods and light engineering like fans. He also announced that Pakistan would participate or hold 25 trade exhibitions and would send 15 trade delegations abroad for exports promotion including China and Korea. He was of the view that we are going to start work on tapping the export potential, which exists in China and after four or five years, Pakistan would benefit a lot from these initiatives.
Explaining the developments on EU package for Pakistan, Puri informed that no cut off date has been finalised for operationalisation of the EU package, however, he said that despite opposition by the regional competitors, EU would be able to extend this concession to Pakistan soon. He said that Pakistan is also demanding from Canada, US, Australia and Japan trade incentives like the EU package.
To a question, he said that depreciation of the rupee against the dollar definitely has an impact on growth of the countrys exports. He, however, said that trade promotion initiatives and good performance of small and medium exports houses has helped achieve good growth this year.
He said that the currency after a sudden jump, has now stabilised and despite increase in oil prices and import cost of raw materials, the countrys manufacturing industry is able to gain in terms of exports, he maintained.
Daily Times - Leading News Resource of Pakistan
* Puri says EUs ban on Pakistans fisheries exports has proved blessing as Pakistan has managed to create new markets in Egypt, Middle East
By Sajid Chaudhry
ISLAMABAD: The countrys exports are likely to cross $20 billion mark by May 2011 despite power and gas shortages.
Trade Development Authority of Pakistan (TDAP) Chief Executive Tariq Puri said this on Saturday while briefing the media men at the National Insurance Corporation Limited (NICL) building on trade initiatives of the government.
He, however, said that the total exports by the end of June 30, 2011 would be determined by the trade figures of the months of January and February 2011 when the impact of gas shortages in November and December would be visible in the exports figures.
Puri informed that its not necessary that gas and power shortages, which the manufacturing cities have faced during the last two months, would have a negative impact. He said that the countrys exports have witnessed a growth of 22 percent during July to December period with total exports of $11.2 billion and best exports have been witnessed in December when the total figure was recorded at $2.2 billion, highest after 1963.
He did not agree with the figures of $500 million or $800 million monthly export losses due to the gas and power shortages in the country and said that this figure would be visible when export figures of the next two months would be available.
He also disclosed that the European Unions (EU) ban on Pakistans fisheries exports has proved a blessing in disguise as Pakistan has managed to create new markets in Egypt and Middle East where volume of fisheries exports has increased from the annual exports to EU.
He also announced that he would strongly resist any measures including Reformed General Sales Tax on exports that TDAP feels would create a hurdle in the countrys exports. He was confident that zero-rating on exports would continue after imposition of RGST in the country.
The government has decided to celebrate 2011 as the year of exports and an export plan after finalising with all stakeholders would be presented before the Federal Cabinet soon as to make achieve a new height in exports of the country. All the government ministries divisions and private sector would be required under the export plan to play its due role in promotion of exports during 2011, he explained.
He said that country had crossed over $10 billion export mark in 2003 and after achieving this benchmark the government had recognised the performance of the individual exporters. When the exports will cross $20 billion mark by end May, individual exporters would be honoured.
Puri admitted that China is using non-tariff barriers to block Pakistani exports and Pakistani exporters despite having zero duty status on Pakistani exports are not able to make exports to China. A review of Pak-China Free Trade Agreement (FTA) has revealed this and the government would address this issue by holding consultations with the Chinese authorities, he added. He said that under the proposed export strategy to be approved by the Federal Cabinet, Pakistans prime focus for exports would be China as at present Chinese importers are importing raw materials from Pakistan and initiatives would be taken to meet the demand of China through value-added products instead of raw materials at present. He said that a roadmap for converting local raw materials into value-added products would be the part of the proposed export plan.
He explained that the increase in cost of production in China is compelling Chinese producers to quit from the clothing sector, which is creating new export opportunities for Pakistani exporters for those export products where Chinese dont have an edge on Pakistani exporters.
He explained that Denim trousers for men and women, fleece, knit and bed linen are the key products where Pakistani exporters would be able to create their own export market in China. He said that Pakistan to participate in Canton Trade Fair China scheduled from April to October where millions of buyers would visit and TDAP has decided to set up a huge pavilion in the fair to introduce its products to Chinese buyers.
He said that purchasing power of middle-class people of China is improving and soon they would become number two in the world for higher per capita income and this huge consumer market would help us meet their needs. Pakistan has the potential to export China textile and clothing, made ups, minerals, precious stones, leather, marine products, fish and value-added products of seafood, sports goods and light engineering like fans. He also announced that Pakistan would participate or hold 25 trade exhibitions and would send 15 trade delegations abroad for exports promotion including China and Korea. He was of the view that we are going to start work on tapping the export potential, which exists in China and after four or five years, Pakistan would benefit a lot from these initiatives.
Explaining the developments on EU package for Pakistan, Puri informed that no cut off date has been finalised for operationalisation of the EU package, however, he said that despite opposition by the regional competitors, EU would be able to extend this concession to Pakistan soon. He said that Pakistan is also demanding from Canada, US, Australia and Japan trade incentives like the EU package.
To a question, he said that depreciation of the rupee against the dollar definitely has an impact on growth of the countrys exports. He, however, said that trade promotion initiatives and good performance of small and medium exports houses has helped achieve good growth this year.
He said that the currency after a sudden jump, has now stabilised and despite increase in oil prices and import cost of raw materials, the countrys manufacturing industry is able to gain in terms of exports, he maintained.
Daily Times - Leading News Resource of Pakistan
