Islamabad: The National Assembly was informed today that the government is committed to improving Pakistan’s trade environment by fostering export sectors and contributing to economic development. This announcement was made during the Question Hour by Parliamentary Secretary for Commerce, Zulfiqar Ali Bhatti.

Bhatti revealed that the current Strategic Trade Policy Framework aims to increase the competitiveness of Pakistani exports through a series of sector-wide interventions. The policy focuses on securing market access via Free Trade Agreements and Preferential Trade Agreements and seeks to strengthen trade connections with Central Asian Republics, Turkey, Iran, Europe, and Russia.

In a bid to enhance trade relations, Bhatti mentioned the establishment of two new trade missions in Darussalam, Tanzania, and Maputo, Mozambique. These missions aim to boost trade engagements in the region. Additionally, a Memorandum of Understanding has been shared with the East African Community, signaling intentions to conclude a Free Trade Agreement with Kenya and Rwanda.

Addressing another query, Bhatti disclosed that the bilateral trade volume between Pakistan and Saudi Arabia reached $5.7 billion during the last fiscal year.

The Parliamentary Secretary also highlighted that Pakistan has successfully secured duty-free concessions on over 94 percent of its products in the UK post-Brexit, reaffirming the ministry’s efforts to maintain favorable trade conditions.