ISLAMABAD – Prime Minister Advisor Abdul Razak Dawood has revealed torenegotiate Free Trade Agreements with the existing countries besidesinking new FTAs.
He said that Pakistan was depending on textiles for exports but its sharein the international market was coming down.——————————
He said that a concept note of industrial policy has been prepared and thenew industrial policy will promote other industries including engineering,chemical, information technology and agriculture to diversify exports.
He further said that the new industrial policy would support strategicindustries and strengthen import substitution industries. He added that thegovernment has planned to increase exports by up to $50-$150 billion byfacilitating export-oriented industries.
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He mentioned that currently Pakistan has signed Free Trade Agreements(FTAs) and Preferential Trade Agreements (PTAs) with five countries.However, he believes that except for the FTA with Sri Lanka, all FTAs wereunfavorable for Pakistan.
To resolve this imbalance, the government is working to revise the FTAswith all countries, and that the second phase of FTA with China would becompleted by June 2019. He said the government was in discussion with manycountries including China, Malaysia, South Korea, Japan and Turkey to getmore market access for Pakistani products. Indonesia has providedzero-rated market access to Pakistan on 20 items.
