By Our Commerce
LAHORE – The Trade Development Authority of Pakistan has invited Lahore Chamber of Commerce and Industry to be part of its trade delegations and all national and international exhibitions.
While speaking at the Lahore Chamber of Commerce and Industry, Secretary TDAP Shehryar Taj said that LCCI is a valued partner and its feedback would be incorporated into the authority’s planning to ensure better alignment with the needs of the business community.
LCCI President Mian Abuzar Shad delivered the welcome address, while Vice President Shahid Nazir Chaudhry, former Senior Vice President Ali Hussam Asghar, Executive Committee members Irfan Ahmed Qureshi, Malik Asif, Ahsan Shahid, Ahad Amin Malik, Aamna Randhawa, Firdous Nisar, Rana Shabaan Akhtar, Syed Salman Ali, Karamat Ali Awan and Mian Amir Saeed also spoke on the occasion.
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Shehryar Taj said that two Pakistani delegations are currently in Bangladesh with another scheduled to visit Malaysia soon. TDAP is set to host the FoodAg Expo at the Expo Centre Lahore from February 26 to 28 to promote value addition in agriculture. 50 foreign delegations and prominent Pakistani national companies have been invited while LCCI should also be part of this event.
He said that TDAP would organize exhibitions in April featuring Health, Engineering and Mineral sectors and expected participation from over 800 foreign delegations from more than 50 countries. He said that TDAP every year hold a single country exhibition in African countries. He said that African continent is one of the top priorities under Look Africa initiative by the government of Pakistan.
He said that TDAP upcoming exhibitions include one in Jakarta in August and another in Ethiopia in May, while delegations are being planned for Malaysia, Indonesia and Philippines. TDAP Secretary underscored the importance of LCCI’s collaboration in these events to strengthen joint planning and market access.
He also congratulated LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry for being 101th office bearers of Lahore Chamber of Commerce and Industry.
LCCI President Mian Abuzar Shad highlighted the challenges being faced by the export sector, especially the rising business costs, high energy prices and the lack of consistency in economic policies. These issues have been significant barriers to increasing exports. Furthermore, the gradual lack of growth in value-added products has also prevented a substantial increase in export revenue.
He said that currently, 68% of Pakistan’s exports are concentrated in textiles, leather, and rice. However, Pakistan has vast potential for expanding exports in sectors such as halal food, pharmaceuticals, information technology, engineering, surgical instruments, and sports goods.
The LCCI President said that the market diversification is important for exports. There is immense trade potential in Africa, ASEAN and the Central Asian republics. Pakistan must enhance its access to these markets to leverage new opportunities.
He said that Africa’s total imports stand at $700 billion with Pakistan’s share at only $1.8 billion. Similarly, ASEAN countries import $1.7 trillion with Pakistan’s share at just $1.7 billion. In Central Asia, the imports total $111 billion, but Pakistan’s share remains a mere $226 million.
Mian Abuzar Shad stressed the need for TDAP to focus on import substitution. With imports reaching approximately $28 billion during the first half of the current fiscal year, Pakistan must focus on reducing imports of machinery, automobiles, electric vehicles, mobile devices and chemicals, which could also help reduce the trade deficit that exceeds $11 billion in the first six months.
He also urged the need to promote the export capabilities of Pakistan’s SME sector and provide the private sector with facilities to market their products in international markets. He said that TDAP should offer subsidies for SMEs, especially women entrepreneurs to enable their participation in international exhibitions and trade delegations. This includes special discounts for air tickets, hotel stays and stall bookings for those companies recommended by chambers of commerce.
The LCCI President recommended that TDAP review its trade strategy with countries where Pakistan has Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs), especially where trade deficits still exist.
LCCI Vice President Shahid Nazir Chaudhry said that TDAP should strengthen its ties with Pakistan’s commercial counselors in countries with significant trade potential and ensure they provide market intelligence reports every six months. These reports should be shared with all chambers of commerce across the country.
He said that after adequate training, Trade & Investment Officers should be posted to Pakistan’s embassies. The performance of these officers should be periodically assessed and if any officer fails to contribute to increasing exports, they should be replaced with a more effective candidate.
Later, Secretary TDAP Shehryar Taj, LCCI President Mian Abuzar Shad and Vice President Shahid Nazir Chaudhry inaugurated TDAP Help Desk at LCCI. This initiative aims to further streamline the facilitation process for exporters and businesses.
