Cabinet approves Pakistan Trade Policy 2007-08
'Pakistan Times' Federal Bureau

ISLAMABAD: The federal cabinet on Wednesday approved the Trade Policy 2007-08, raising the export target to US$ 19.2 billion from US$ 18.7 billion last year.

The federal cabinet which met here under the chairmanship of Prime Minister Shaukat Aziz expressed confidence that the trade policy would help improve the supply chain and expand the industrial base.

The Cabinet reviewing the trade policy felt it encompasses the strategies and measures to make country’s products more competitive. Prime Minister Shaukat Aziz addressing the cabinet said the government is encouraging trade diplomacy to ensure free market access for country’s products in the international market.

He said Free Trade Agreement (FTA) signed with China is a landmark. The government, he added, is pursuing FTAs with other countries as these would open avenues for exports which should motivate the private sector to take advantage of these opportunities.

The Prime Minister emphasized that the private sector should benefit from the opportunities made available by the government for promotion of exports. Managerial expertise and labour productivity are two important sectors which need to be improved for quality output of products, he added.

Regarding establishment of Trade Development Authority (TDA), the Prime Minister said, it would enable focused access to the exporters for enhancing growth in trade. He directed TDA to redouble its efforts to further facilitate export growth.

The Prime Minister appreciated the role of the Commerce Ministry other ministries and concerned organizations in formulating a rational, objective and growth oriented trade policy for 2007-08.

“Trade, not aid, is the hallmark of our trade policy since it ensures creation of permanent jobs for our people,” the Prime Minister said. He said Pakistan seeks level playing field for its exports and expressed the hope that Doha Round of talks would be completed successfully.

Reviewing the law and order in the country, the cabinet condemned the cowardly acts of terror and noted that these are against the nation and the teachings of Islam.

The cabinet observed these violent incidents have further strengthened the resolve of the nation to fight militancy and extremism and to struggle for the cause of peace.

In his remarks on law and order, the Prime Minister said the nation is fully determined to face the challenges of extremism and militancy and work towards promoting peace and harmony in the society.

The Prime Minister emphasized that “madaris” are playing a useful role in imparting religious education and the government supports such madaris.

Shaukat Aziz said the government will continue to work with all stakeholders to further improve the madrassah reforms so that the need for religious education is appropriately met.

The cabinet also offered fateha for the victims of the unfortunate incidents of violence in the last few days, which resulted in death of innocent people including personnel of the law enforcement agencies.●