Tuesday, August 3, 2021
Home Business FCCI belives collaboration with Uzbekistan to boost exports

FCCI belives collaboration with Uzbekistan to boost exports

Bureau Report

FAISALABAD: Collaboration between Pakistan and Uzbekistan will open new avenues of value addition and help Pakistan to almost double its exports, said Engineer Hafiz Ihtasham Javed, President Faisalabad Chamber of Commerce & Industry (FCCI).
He was addressing a joint meeting of entrepreneurs organized by the Ministry of Commerce/Trade Development Authority of Pakistan (TDAP) in Tashkent. It was chaired by Prime Minister Imran Khan.
Engineer Hafiz Ihtasham Javed said that Uzbekistan has a well developed cotton and spinning industry and we could collaborate in these sectors in addition to exploiting the massive potential of value addition in the processing sector. He said that Textile Policy has played a pivotal role in jacking up exports to 15 billion dollars and Faisalabad has played a key role in achieving the ambitious export targets. He said that the new Textile Policy is still lying unapproved. “Its approval will give a new momentum to the textile sector”, he said and added that it will also help the Government to get maximum foreign reserves from its exports. He appreciated the Government’s efforts to open new export markets for Pakistani exporters and said that Central Asian Estates have huge potential for Pakistani products but our exporters hesitate to enter into these untapped markets in the absence of a reliable banking system. However, he appreciated the efforts of Prime Minister Imran Khan and Advisor Abdul Razak Dawood to enhance bilateral trade between Pakistan and Uzbekistan and said that it will be beneficial for the both countries. Commenting on the proposed PTA (Preferential Trade Agreement) and said that during its negotiation textile sector may be involved and before finalizing the draft of PTA, all stakeholders must be consulted and taken into confidence to ensure maximum benefit for the Pakistani exports. He further said that Uzbekistan is also a cotton surplus country and we could import cotton from this country to overcome our domestic shortfall. However, a peaceful Afghanistan is imperative for trade with Uzbekistan and other Central Asian Republics as all road links pass though this war ravaged country.


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