LAHORE: Federal Minister for Commerce Jam Kamal Khan says that traderelated issues with Afghanistan would soon be resolved, as the country is a gateway to access the Central Asian countries.
`My recent meeting with the Afghan commerce minister has helped resolve key trade-related matters with Afghanistan,` the minister said at the Lahore Chamber of Commerce & Industry on Saturday.
`Afghanistan is a crucial corridor for gaining overland access to Central Asia,` he added.
He said the recent structural reforms by the government have put the country`s economy on a path of consistent improvement.
According to him, the large-scale participation of foreign delegates in eventslike the Health & Minerals Expo in Lahore is a strong indication of growing international confidence in Pakistan.
He said that the Export Finance Scheme programme is being tailored to benefit the business sector and reforms are being shaped through constant consultation with stakeholders.
The commerce minister disclosed that the prime minister personally participates in B2B meetings during international visits, reflecting the government`s commitment to promoting trade.
He said the export development fund is being restructured and TDAP has undergone considerable institutional improvements. He acknowledged that exports are still largely confined to a few products and regions and there is an immense untapped potential in areas like East Africa and other emerging markets.
A new trade policy is also being formulated and for the first time, sectorspecific meetings have been held regarding tariffs, which will be taken up with the Tariff Board, he said.
LCCI President Mian Abuzar Shad said the continuing challenges despite several positive indicators. He said that exports cannot increase unless the problems of the industrial sector are resolved. He identified several pressing issues facing the industry, including the devaluation of the rupee, high energy tariffs, the imposition of Maximum Demand Indicator charges on closed industries, exorbitant land prices in industrial estates and heavy duties and taxes on raw materials and intermediate goods.
