Nine new trade missions planned abroad
Pakistan has decided to establish nine new trade missions in Africa, Europe and Asia in an effort to boost trade with these regions as exports of the country have remained stagnant at around $25 billion, though its peers have gone far ahead.
Pakistan has not been able to enhance exports since decades owing to the failure of its trade missions abroad to promote the country’s goods and the inconsistent domestic policies. Sources told The Express Tribune that the government would require an annual budget of Rs70 million for setting up the new trade missions.
The current Pakistan Muslim League-Nawaz (PML-N)-led government will allocate these funds in the next budget for fiscal year 2024-25. According to officials of the commerce ministry, two new trade missions each will be set up in Africa and Europe. Apart from these, five trade missions will be established in Asia.
They said the Special Investment Facilitation Council (SIFC) had accorded formal approval to the plan. It also gave the green light, in principle, for the required cost and directed the Ministry of Commerce to seek the allocation of funds in the FY25 budget.
Read more: https://tribune.com.pk/story/2459570/nine-new-trade-missions-planned-abroad
