Abdul Razak Dawood, Adviser to Pakistan’s Prime Minister on Commerce, Textile, Industry and Production, and Investment has said that trade with India is the need of the hour and beneficial to both countries.
He said, “The trade with India is very beneficial to all, especially Pakistan. And I support it. As far as the Ministry of Commerce is concerned, its position is to do trade with India. And my stance is that we should do trade with India and it should be opened now.”
India has exported cotton worth US $ 550.33 million to Pakistan in 2018-19, while the same was just US $ 64.25 million (down by -88.33 per cent) in 2019-20.
The export of man-made filaments was US $ 50.99 million in 2018-19, while it was US $ 40.42 (down by -20.72)in 2019-20.Similarly, the export of man-made staple fibres was US $41.20million in 2018-19 and US $ 15.75 million (down by -61.78per cent)in 2019-20.
Abdul Razak added, “Pakistan’s major export destinations are Europe, North America (especially the US) and China. But our range of products needs to be increased. And I think, our engineering and healthcare-related goods can be added in the list of exports.”
It is pertinent to mention here that Pakistan’s textile exports would reach Rs. 21 billion target in FY 2021-22 ending on 30 June. Next year’s textile exports target is Rs. 27 billion. However, the country should diversify its exports since its products range is squeezed.
