Pakistan to export engineering goods to African countries
A contract to supply 5,000 tractors to Angola has been signed says, PM’s Trade Advisor
- Pakistan will be exporting engineering goods to African countries.
- Export of home appliances to Europe is also in progress.
- Pakistan achieves the target of exporting one billion dollars of rice and sugar to china: Trade advisor Abdul Razzaq Dawood.
Prime Minister’s Adviser for Trade Abdul Razzaq Dawood says Pakistan’s engineering goods have begun to go to African countries. A contract to supply 5,000 tractors to Angola has been signed says, PM’s Advisor. Moreover, the export of home appliances to Europe is also in progress.
Briefing the Senate Standing Committee on Trade and Textiles, chaired by Senator Mirza Mohammad Afridi, Advisor Trade said that Pakistan’s engineering products are exported to African countries. Furthermore, soon Pakistan will export 10,000 water dispensers to Europe. It is a good initiative that Europe has started to import goods form Pakistan.
He further stated that in November a delegation of Pakistani engineering companies would participate in the exhibition in China. Our textile exports have a tendency to increase. On the other hand, Yarn exports declined by 18% and gray cloth exports by 22%.
Abdul Razzaq Daud said that Pakistan achieved the target of exporting one billion dollars rice and sugar to china but did not achieve the target of yarn. Due to high prices of yarn locally Pakistan was unable to achieve the estimated target of export.
Tax removal bill on export of raw material
In the meeting, Abdul Razzaq Daud also highlighted that tax needs to be abolished in the export of raw material. He further said that the issue of removing tax should to be discussed with Prime Minister Imran khan.
Chairman Committee Senator Mirza Mohammad Afridi recommended that the advisor convene a meeting on trade excellence and resolve the matter. In the meeting, Senator Naseebullah Bazai withdrew the Trade Organization Amendment Bill 2019.
Diversification of export can play a very substantial to improve the economic development of any country. Many countries over the decade have increased their exports through exporting goods to many regions of the world.
Countries like China, India, Korea, and Singapore have changed the formation of their economies from engineering exports to manufactured goods.
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