Comprehensive tariff reforms introduced to boost exports

Comprehensive tariff reforms introduced to boost exports

ISLAMABAD: (APP) Minister of Commerce, Khurram Dastgir Khan on Tuesday said comprehensive tariff reforms on raw materials and immediate goods were being introduced in coordination with other relevant ministries which would help removing all the impediments in enabling the country's exporters to compete in international markets and boost exports.

He was talking to British High Commissioner, Thomas Drew who called on him along with Head of Department for International Development (DFID) Pakistan, Joanna Reid and Head of DFID Economic Growth Group, Louise Walker here at his office.

They discussed the entire gamut of Pakistan-UK trade and economic relations.

Thomas Drew said Pakistan offered a huge commercial market for British investors.

He discussed ways and means for further improving bilateral trade between Pakistan and UK and said the trade agreements between the two countries must be strengthened to enhance trade as these arrangements will benefit both the countries.

The minister informed the delegation that due to the present government policies, Pakistan had become a lucrative market for business investors.

He impressed upon the delegation that under the leadership of Prime Minister Nawaz Sharif, PML (N) government was giving top priority to exporters and trade community and has already facilitated the exporters through zero rating, unprecedented cuts in exports financing rates, uninterrupted supply of electricity and gas, repeated reduction in electricity prices and by providing improved law and order situation to enable them to boost the exports.

The minister added that bilateral trade between Pakistan and UK was still below its true potential.

"Pakistan and UK have great potential to promote bilateral trade and both countries should facilitate private sectors in developing strong connectivity to explore all untapped areas of mutual cooperation to take two-way trade to higher levels", added the minister.

The minister informed the delegation that Ministry of Commerce was working diligently on different initiatives like Tariff reforms on raw materials, easing the movement of goods and developing E- commerce framework.

"E-commerce is getting more and more attention from entrepreneurs and consumers, both local and international and it will certainly provide an export boost to Pakistan", the minister added.