Trade Policy Framework 2015 18 to be announced

ISLAMABAD: The Ministry of Commerce has finalized new Strategic Trade Policy Framework 2015-18 which would be announced soon after the approval of the Prime Minister, a senior official said.The Framework was finalized in consultation with all stakeholders and was submitted to the Prime minister for final approval, a senior official privy to trade policy formulation told APP here.He said that under the new strategic trade policy framework 2015-18 the exports of the country would be enhanced to $35 billion by the end of the year 2018. Every year around $4 billion would be added to the exports, he remarked.Highlighting some of the main focus of the policy, the official said that under the policy incentives would be given to the exporters besides providing them soft-term loans for the purchase of technology for products upgradation and value addition to make the export oriented industry competitive in the international markets.He added that old FTAs and PTAs would be reviewed and improved for the benefits of Pakistani exporters and their products.The official said that the Commerce Ministry and its subordinate organizations including Trade Development Authority of Pakistan (TDAP), Domestic Commerce Wing and Trade Dispute Resolution organization would be strengthened further for the benefit of the country’s exports and facilitation of the exporters.He said that carry forward policies of the previous trade policy would be implemented including the start of operations of EXIM Bank (Pakistan) for the support of the exporters.He said Drawback of Local Taxes and Levies (DLTL) would also be looked into in the new trade policy.