Pakistan exploring new trade avenues to achieve $26bn export target: SAPM

Pakistan has big plans for the future of its exports. According to Special Adviser to Prime Minister on Commerce and Investment Abdul Razzak Dawood, the country is looking forward to exploring new trade avenues in its grand pursuit of hitting the $26 billion export target within the next three years.

According to a report by Business Recorder, the advisor informed the government that Pakistan was analyzing new trade markets across the world in its attempt to amass $26 billion worth of exports in the near future.

He explained that trade diversification, regional trade integration through Gwadar Port, exploring new markets in Africa and the Americas, and enhancing the production of engineering goods comprise the main agenda of the incumbent government to create a surge in exports.

The markets being explored are certainly lucrative options, and an added focus on high-value goods like engineering products is likely to accelerate the total value of exports to different parts of the world.

Mr. Dawood added that regional trade and economic integration would play a pivotal role in enhancing connectivity with the Central Asian states and Afghanistan. A good chunk of these states are landlocked, and their reliance on Gwadar Port for conducting marine trade is expected to bring in a good amount of revenue as well.

He said another major focus of the government is on expanding the role of the digital economy and connecting with the international market, to increase exports and create new employment opportunities for youth.