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Federal Cabinet approves Strategic Trade Policy Framework (STPF) 2020-25

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ISLAMABAD, Pakistan: The Federal Cabinet has approved the Strategic Trade Policy Framework (STPF) 2020-25.

The approval was accorded when the Cabinet met in Islamabad on Tuesday with Prime Minister Imran Khan in the Chair, the Prime Minister’s Advisor on Commerce and Investment Abdul Razak Dawood said.

The main focus of the STPF 2020-25 will be as follows;

1) Geographical & Product Diversification

2) Manufacturing cost reduction through tariff rationalization

3) Pursuit of Regional Connectivity & Look Africa policy

4) Enhancement of market access through Free Trade Agreement (FTA)/ Preferential Trade Agreement (PTA)

5) Facilitation of logistics & tracking under TIR & enhancement of regional connectivity for access to Central Asian Republics (CARS), Turkey & Iran, through them to Europe and Russia.

Separately, the Federal Cabinet decided to send a sufficient amount of wheat flour and rice to Afghanistan to help the Afghan people dealing the emerging humanitarian crisis.

Briefing the media, the Minister for Information and Broadcasting Chaudhry Fawad Hussain told that the Cabinet also decided to ease imports from Afghanistan to Pakistan.

To reinforce Pakistan’s humanitarian efforts for Afghanistan, the Cabinet also decided to set up a fund for collecting contributions to help Afghan people, who are already suffering from food shortage.

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