The Pakistani textile sector has urged the government to take pragmatic steps towards exploring non-traditional markets to increase exports. According to the Pakistan Textile Exporters Association (PTEA), the commerce ministry has said in a paper that this was indeed the time to focus on non-traditional markets as huge opportunities are available. These non-traditional markets include South Africa, Australia, New Zealand, Korea, Japan, Taiwan, Mexico, Chile, Peru, Argentina, Cuba and Canada, stated the paper.
The recommendation comes as Pakistan’s exports take a sharp dive with the current account data for September showing the deficit increasing 13 per cent. Meanwhile, textile comprises of over half of the country’s total exports.The Association also urged the government to activate Pakistan’s trade missions abroad and rationalise activities and policies of the Trade Development Authority of Pakistan (TDAP) towards this direction so that the objectives could be achieved.
The Association has also recommended that frequent exchange of trade delegations to emerging markets would help enhance trade opportunities and explore new space for dwindling exports. It also notes that billions of rupees from the Export Development Fund (EDF) were being wasted on unproductive tours of government officials.
