ISLAMABAD, Pakistan: Minister for Commerce Khurram Dastgir Khan said on Friday the average per annum trade volume of Pakistan with South Asian Association for Regional Cooperation (SAARC) countries had been $5,630.74 million during the last three years.
Overall, he added, it was a fact the exports of the country were less than the imports.
Elaborating, he added the volume of exports in July-March 2014-15 stood at US$17.72 billion against US$33.94 billion worth imports while in July-March 2015-16 the exports were US$ 15.06 billion with imports of US$ 32.49 billion, registering balance in the negative by-16.02 and -16.88 respectively.
He said several measures being made to enhance the country’s trade and a total of Rs 20 billion would be spent on development of export sector during the next three years, he added.
He added other initiatives included enhancing the country’s export competitiveness and institutional strengthening and encouraging value addition etc.
He said four products categories would be focused including basmati rice, horticulture, meat and meat products, jewelry with the parallel focus on markets of Iran, Afghanistan, China and European Union.
He added active trade diplomacy was being pursued to get better market access for the local business in international markets.
Moreover, bilateral free trade agreements with different countries were being pursued which help boost the country’s exports, he added.
Answering another question, the minister said Pak-Norway bilateral trade amounted to US$ 63.15 million in 2014-15. The Pakistani exports to Norway amounted to US$39.00 million while the imports amounted to US$ 9.37 million.
Pakistan major items of exports to Norway included Home Textile, Textile garments, football and carpets and the major items of imports from Norway include machinery , papers and paperboard products, iron and steel manufactures, pulp and paper waste.
He said the Norway was a member of European Free Trade Association (EFTA) and Pakistan was desirous of initiating FATA negotiations with European Free Trade Association countries comprising Switzerland, Norway, Iceland and Liechtenstein.
Source: APP
