ISLAMABAD, Pakistan: The export of Jute sacs, bags and fabrics is projected to be US$ 17 million for the Fiscal Year 2020-21, which is an increase of 38% as compared to the last Fiscal Year, the Prime Minister’s Adviser for Commerce and Investment Abdul Razak Dawood said.
In a statement on Monday, the adviser said that during the entire Fiscal Year 2019-21, the export of Jute sacs, bags & fabrics stood at US$ 12.57 million while during the first sixth months of the ongoing fiscal year, it stood at US$ 8.724 million.
The adviser said that the export is projected to be US$ 17 million for the FY 2020-21, which is an increase of 38% as compared to the FY 2019-20.
Abdul Razak Dawood said that the Ministry of Commerce always believes that reducing tariffs on raw material results in the long-term growth & economic activity which leads to greater domestic production and growth in exports.
“A good example is the growth of export of jute products,” he said.
Earlier in another statement, the adviser told that as a follow-up to review meetings with Afghanistan and Uzbekistan Officials over the past few months and seeing the potential in Central Asian Republics and Afghanistan, it has been decided that the Ministry of Commerce will hold a “Silk Route Connect” Conference in Uzbekistan’s Capital Tashkent.
The adviser said that the Conference will be held in Summer and will be planned by the Trade Development Authority of Pakistan (TDAP). It will be similar to the Look Africa Conference held in Nairobi last year, he added.
Abdul Razak Dawood said that a meeting will soon be held with all the stakeholders in this regard to discuss all aspects.