PM Shehbaz Sharif gives urgent directives for trade policies

With the aim to foster competition, PM Shehbaz Sharif has given instructions of expanding exports of non-traditional items. His primary aim behind holding this meeting on the trade sector is to promote businesses. In particular, the PM firstly involved the private sector by ensuring that their input on these policies is taken into consideration. Then he instructed the relevant ministry to craft a strategic approach evaluating investment officers posted in missions abroad. This examination will allow to distinguish performances and subsequently reward those who are performing well. By its very nature, the reward system promotes competition within. The premier further insisted that a deletion policy entailing the production of automotive goods be implemented for the development of the auto sector.

Other than the development of specific strategies, critical updates reviewed in the meeting include:

1. The PM will review the export report twice each month
2. Negotiations for the Free Trade Agreement between Pakistan and Gulf countries are nearing completion.
3. Corridor trade agreements with Uzbekistan and Tajikistan have been initiated
4. With regards to the preferential trade agreements with Azerbaijan and Afghanistan, stakeholders are being conferred with.
5. Both Iran and Russia have indicated their initial agreement for the implementation of barter trade.
6. 450 business to business meetings were held at the Pak-Saudi Business conference in Islamabad.
7. The progress on Gem Export Framework is nearing its completion.