Senate Committee highlights growing demand for Pakistani products in key international markets
Senator Anusha Rehman stresses inclusion of the furniture industry in list of areas of export potential
ISLAMABAD ( WEB NEWS )
Senator Anusha Rahman Ahmed Khan chaired the meeting of Senate Standing Committee on Commerce held on Tuesday at Parliament House.
The Senate Committee was briefed by the Trade and Investment Minister for the United States of America, Canada, Mexico, South Africa, and Ethiopia on the exponential demand for Pakistani products in their respective markets and the initiatives taken by Trade and Investment officials for export promotion.
The Trade and Investment Counsellor for Los Angeles informed that the focus has been on the textile and IT services there is huge potential for IT and IT enabled services as Silicon Valley encompasses the region. Additionally, TIO arranged conferences for interaction between Pakistani companies and the USA.
Furthermore, the Trade and Investment Counsellor for Houston, USA, highlighted the development of an IT center and the potential for IT services in the region. The demand for furniture in the state of Georgia provides an opportunity for Pakistani furniture makers.
Senator Anusha Rehman stressed the inclusion of the furniture industry in list of areas of export potential.
The committee discussed and recommended that officers of the Commerce and Trade Group should be posted as Trade and Investment Officers so that the ministry could benefit from their experiences gained abroad.
Moreover, the Trade and Investment Officer for Toronto, Canada, apprised that exports to Canada have increased from 388 million dollars to 440 million in the last two to three years. Of the total exports, textiles account for 60 percent of the export volume. However, there is huge demand for synthetic fiber products in Canada, and Pakistani companies are moving forward to tap into the synthetic fiber market.
Highlighting the export potential of Pakistani products for Mexico, the Trade and Investment Officer stated that Pakistan’s exports to Mexico stand at 266 million USD, making it the largest export of Pakistan to any Latin American country. Surgical equipment is the second most exported item to Mexico, with a 32 percent share after textiles, and there is huge potential for surgical and dental instruments export to Mexico.
Envisaging the export potential for Addis Ababa, Ethiopia, the Trade and Investment officer apprised that Ethiopian imports from Pakistan stand at 46.9 million dollars, with rice being the highest export item. However, there is huge potential for pharmaceutical and surgical items to African countries.
In attendance were Senators Muhammad Tallal Badar, Sarmad Ali, Amir Waliuddin Chisti, Hamid Khan, Federal Minister for Commerce Mir Jam Kamal Khan, Special Secretary for Commerce Shakeel Ahmed Mangnejo and other senior officials from concerned departments.