Pakistan's exports grow to $2.3b in March: Razak

Commerce ministry sets exports targets to US$ 26bn in three years: Razak Dawood

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Islamabad: The Prime Minister of Commerce and Investment Abdul Razak Dawood  said on Sunday that the Ministry of Commerce is determined to achieve a US$26 billion export goal in the next three years by opening up new global trade markets.

The consultant said that trade diversification, through the regional trade integration of Gwadar Port and opening up new markets in Africa, North and South America, and increasing the output of engineering products to increase exports are the main agenda of the government to increase exports.

He said that regional trade and economic integration will play a huge role in strengthening ties with Central Asian countries and Afghanistan.

He said that another major focus is to expand the role of the digital economy and establish links with international markets to increase exports and create new employment opportunities for youth.

In answering another question, he said that the upcoming strategic trade policy framework will address the needs of the modern economy and sales on the online market will make an important contribution to economic activity.

Razak Dawood stated that while moving towards the goal of digital transformation, Pakistan announced its first e-commerce policy in October 2019.

He said that the policy aims to provide a launch pad for Pakistan’s e-commerce market and its exports, and at the same time proves to be a driving force to promote youth empowerment and job creation through digital connections.

In addition, it will enhance the capacity of Pakistan’s women entrepreneurs and encourage micro, small and medium enterprises to play a role in Pakistan’s economic prosperity.

He said that this will also be a tool to enhance exports by connecting with global e-commerce platforms.

Razak Dawood stated that under this policy, a strong national e-commerce committee will be established at the federal and provincial levels to implement e-commerce policies correctly and effectively.

This policy provides an opportunity to mainstream SMEs and connect them to Pakistan and the international market through online platforms.

In answering another question, he said that the Pakistan Electronic SME Program will be launched to identify, train, enable and connect 50,000 electronic SMEs in remote areas of Pakistan to the online market to promote e-commerce.

He said that an e-commerce business promotion center will be established and a business aggregator will be developed together with the “public-private partnership” to show the world case e-commerce companies in Pakistan.

He said that the existing federal and provincial consumer protection laws will be revised to fully resolve consumer disputes caused by e-commerce platforms.

He added that the “Code of Conduct” will be correctly implemented through e-commerce platforms to ensure consumer protection.

He said that an electronic court will be established to quickly and effectively handle consumer cases and their disposal.

Razak Dawood stated that in order to promote financial inclusion and digitization, efforts will be made to convert all cash on delivery (COD) payments to electronic payments within 10 years.

He said that it will also ensure the provision of an international payment portal in Pakistan.

Within three years, all government procurement and transactions will be transferred to electronic procurement and online payment systems.

He said that the Provincial Taxation Bureau will coordinate its collection system for goods and services tax to avoid double taxation on e-commerce platforms.

The consultant said that Pakistan has formulated the “E-Commerce Policy” and is currently in a stronger position. The Ministry of Commerce will allocate the necessary resources for the implementation of the policy. With the advent of the global Covid-19 pandemic, this resource will become even greater important. , Prompting countries to transition to electronic transactions domestically and internationally.

In addition, STPF will ensure the establishment of export liaisons in different sectors with traditional economies in the online market through e-commerce policies, he told.

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