Lahore (Nut Desk)
Progressive Group in the Lahore Chamber of Commerce & Industry (LCCI) has suggested the government devise an export plan for increasing and formalizing bilateral trade between Pakistan and Afghanistan which at present is around US $5 billion. This plan can be made by taking on board the official quarters of these countries, the business community and customs authorities of both sides to run the bilateral trade in a formal and legal way. Lahore Chamberโs EC member and a central leader of the Progressive Group Muhammad Ejaz Tanveer in a statement issued here on Tuesday said that at present a big issue was coming up which is the flight of dollars from Pakistan to Afghanistan while the smuggling under various garbs was also a big hit to Pakistanโs economy. Enacting a legal framework and plan by Pakistan and Afghanistan will help both economies to overcome these issues. He said that having an export plan can be beneficial for both Pakistan and Afghanistan as it can help these countries to identify their key export products and services that have a competitive advantage in international markets. This can help these countries to focus on developing these products and services and to allocate resources to their production and marketing. Ejaz further said an export plan can help Pakistan and Afghanistan to develop market strategies for their key export products and services. This can include identifying potential export markets, conducting market research to understand the demand for their products, and developing marketing campaigns to promote their products and services. Likewise, an export plan can help Pakistan and Afghanistan to enhance their competitiveness in international markets by identifying areas where they need to improve, such as product quality, cost-effectiveness, or branding. An export plan can help Pakistan and Afghanistan to access financing and other resources to support their export activities. This can include access to export credit, export insurance, or technical assistance to improve product quality or compliance with international standards. Such a plan can help Pakistan and Afghanistan to increase their exports and foreign exchange earnings, which can have significant economic benefits, including job creation, increased economic growth, and improved balance of payments. Overall, an export plan can be a useful tool for Pakistan and Afghanistan to develop their export capacity and to take advantage of the opportunities presented by international trade, Ejaz Tanveer concluded.
