Unveiling of the export strategy for 10 priority sectors – Business
ISLAMABAD: The Ministry of Commerce on Friday unveiled the National Priority Sector Export Strategy (NPSES), focusing on 10 priority sectors to achieve export growth.
The strategy is part of the Strategic Trade Policy Framework 2020-25, approved in November last year and identified 18 priority sectors with guidelines for developing sector-specific policy measures to promote their exports.
The NPSES focuses on 10 of the STPF’s 18 priority sectors, including engineered products, leather, processed foods and beverages, fruits and vegetables, meat and poultry, pharmaceuticals, software development and services, business process outsourcing, logistics and institutional coordination.
Individual export policies are developed under the guidance of the Trade Development Authority of Pakistan (TDAP) and in close consultation with industry leaders. The NPSES aims to enable and sustain a new round of export growth for Pakistan, tapping into its vast untapped potential for trade and investment development.
According to the documents, the NPSES aims to enhance the competitiveness of emerging and established export sectors. It presents an action-oriented five-year priority framework and recognizes that things must be done differently to increase the contribution of trade to economic development.
The policy will improve the business environment for all Pakistani businesses. It will create the conditions for diversification by strengthening emerging sectors. Without logistical and institutional alignment, these ambitions will remain only on paper, so these areas have been brought to the highest level of priority as key catalysts for the growth of the sector.
The International Trade Center (ITC) works with the Government of Pakistan with financial support from the UK Government’s Foreign, Commonwealth and Development Office (FCDO), through the Revenue Mobilization, Investment and of Commerce (ReMIT) to support the development of the NPSES.
Trade Minister Naveed Qamar said the government has taken a series of initiatives to promote exports to achieve sustainable and inclusive economic growth, poverty reduction and improved living standards Population. “We will work with all stakeholders to utilize the opportunities that NPSES offers in creating jobs and new opportunities for Pakistan,” he said.
Acting British High Commissioner Andrew Dalgleish said the FCDO was proud to support programs such as ReMIT, which aimed to help Pakistan build its institutional capacity to formulate trade policies and remove barriers to trade. .
ITC’s Trade Facilitation and Trade Policy Chief, Dr Mohammad Saeed, said that, driven by quality and innovation, the strategy and related work plan would strengthen the international presence of Pakistani products. priority sectors.
Posted in Dawn, August 20, 2022