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Pakistan Stresses Regional Connectivity to Boost Exports

January 18, 2022

ISLAMABAD, Jan. 18 (INP-WealthPK): Pakistan and Uzbekistan have recently signed an international road transport agreement, under which, goods’ trucks would be able to reach Islamabad directly from Tashkent, thus boosting the regional trade. “The agreement is part of the regional trade integration, which is necessary for increasing the volume of local exports to achieve the agenda of economic growth,” said Abdul Razak Dawood, the Adviser to Prime Minister on Commerce and Investment, while speaking at the International Chambers Summit 2022 organised by the Rawalpindi Chamber of Commerce and Industry (RCCI). “Economic growth can be strengthened by promoting regional trade through regional economic connectivity,” he elaborated. He said Pakistan’s textile market accounted for 60% of total exports. “For product diversification in trade we need to focus on other sectors, especially pharmaceuticals, agricultural products, engineering, and information technology to increase their share in domestic exports.” Dawood said the export figures from July to December 2021 were encouraging as the country earned $15 billion from exports in the last six months. He praised RCCI for holding the Chambers Presidents Conference, which has now become a regular event. He also asked the business representatives to send their proposals for consideration in the coming budget 2022-23 by the first week of February.