Islamabad, 6 February 2024 (TDI): The Federal Minister for Industries and Production Division, Dr. Gohar Ijaz, announced that Pakistan’s exports to China soared by 46% compared to $1.1 billion during the same period last year.
For the current fiscal year 2023-2024, our exports recorded $1.72 billion. On the other hand, the imports from China into the country during this period were recorded at $7.709 billion against $7.658 billion last year, showing a nominal increase of less than one percent in July–January (2023–24).
When he revealed the data of the past seven months, he stated that “these positive trends reflect our government’s unwavering commitment to promoting trade and economic growth. We will continue to implement policies that support our exporters, diversify our export base, and enhance trade facilitation.”
Also Read: Pakistan and China forge cooperation in key sectors
On Tuesday, February 6, the Ministry of Commerce held a meeting that was centered around Pakistan’s commitment to achieve a $100 billion export target.
During a meeting, a comprehensive roadmap was discussed to outline the strategies and initiatives needed to achieve this vision within the next 5 years.
The strategy involves diversifying both the products being exported and the markets they are targeting. This strategy will help us reduce dependency on specific products or regions, enhancing the overall resilience of Pakistan’s export sector.
The meeting emphasized streamlining processes involved in export activities. This could include improving logistics and customs procedures.
They also discussed initiatives to create favorable ecosystem for increasing export, focusing on the implementation of policies and measures that encourage and support export-oriented businesses.
Additionally, Dr. Gohar Ejaz highlights the importance of collective efforts, seeking support from various stakeholders, businesses, and the public to work toward this five-year target.
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