*ISLAMABAD: *Adviser to Prime Minister on Commerce Abdul Razak Dawood saidon Wednesday that trade diversification through engineering goods wouldincrease the volume of local exports.
“Through its ‘Look Africa’ policy, the government will encourage theexporters to promote their engineering businesses in different untappedmarkets of African countries, as well as in the European Union, by makingtheir products more competitive,” he said while briefing the Senate’sStanding Committee on Commerce and Textile Industry.
The meeting, held under the chairmanship of Senator Mirza Muhammad Afridi,was attended by Senators Syed Shibli Faraz, Ahmed Khan, Dr Ghous MuhammadKhan Niazi, Imamuddin Shouqeen, Gian Chand, senior officials of thecommerce ministry and representatives of different chambers of commerce andtrade organisations.
“We are paying full attention to the export of engineering goods, includingtractors, air-conditioners and water dispensers, exports of which wouldsoon start in three main potential markets of the African region; Kenya,Tanzania and Mozambique,” the adviser informed.
He said the government had negotiated and signed a memorandum ofunderstanding (MoU) with Angola’s private sector companies for export of5,000 local tractors.
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“We also received an export order of 10,000 water dispensers from theEuropean Union while separate negotiations are also in process for exportof air-conditioners to the European countries,” the PM’s aide added.
He said local textile exports were increasing and have witnessed a positivetrend in the recent. He hoped that after the commencement of the Free TradeAgreement (FTA)–Phase II, local textile products would get more marketspace in China.
In addition to the FTA-II China, Dawood said the government had alsomanaged to receive duty-free access on $1 billion worth of items. “Thiswill help boost the exports of sugar, rice and local yarn to China.”
