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Pakistan to enter into trade liberalisation deals with with five countries

Pakistan to enter into trade liberalisation deals with with five countries

*ISLAMABAD: *The government has expressed its willingness to enter in tradeliberalisation deals with countries in the Pacific and Africa regions in abid to increase the country’s exports. ‘

Commerce Minister Pervaiz Malik has said the government was looking forwardto start preferential trade agreement (PTA) talks with Japan, Indonesia,Vietnam, Philippines and Kenya, Tribune has reported.

The minister, who received a briefing on trade statistics on Tuesday, saidthe government was working on exploring new markets for diversification,while at the same time it was giving more incentives to exporters. Malikexpressed satisfaction at the year-on-year growth in exports that wasreached in March 2018, as exports amounted to $2.23 billion, higher by 24%compared with March 2017 and 17% when compared with February 2018.

“The 24% increase in exports, the highest in four years, is the result ofthe duty drawback scheme under the PM package as well as the exchange rateadjustment, export friendly policies and renewed efforts towards seekingbetter market access,” he said.

The commerce minister said the government would take all necessary measuresto facilitate exporters. “Improved market access especially in the Europeanmarket owing to the successful review of GSP Plus facility also played animportant role,” he added.

On the other hand, imports grew by only 5% as compared to March 2017, whichis also one of the lowest growths in the past many months, the ministryadded.