Federal Minister for Commerce, Jam Kamal Khan, chaired a high-level meeting of the Trade Review Committee on Friday to assess Pakistan\u2019s trade performance during the Financial Year 2024\u201325.
\nThe meeting brought together senior officials of the Ministry to review sector-wise progress and chart forward strategies amid persistent global trade challenges, said a release issued here.
\nDespite facing continued global headwinds including tariff tensions, slowdowns in major markets, intensifying price competition, and geopolitical uncertainties, Pakistan\u2019s export sector displayed resilience.
\nTotal exports rose to US$ 31.75 billion, up from US$ 30.76 billion in FY 2023\u201324 \u2014 a notable gain driven primarily by robust performance in value-added and emerging sectors.
\nThe exports among the leading contributors to this growth were textile and apparel Sector,knitted garments surged by 15 percent, Woven garments up 16 percent and home textiles recorded a 9 percent increase.
\nThe exports in non-traditional and value-added including tobacco and cigarettes saw a remarkable 135 percent increase, plastic products grew by 17 percent, Cement exports rose by 25 percent and Pharmaceuticals and ICT-related services also continued to gain traction.
\nThe minister praised the performance of these sectors, especially the growth seen in diversified and non-traditional exports, which are critical to Pakistan\u2019s long-term trade sustainability.
\nOn the import side, a 24% increase in capital goods was observed \u2014 a sign of reviving industrial activity and rising consumer confidence in the economy.
\nDuring the meeting, the Commerce Minister issued several strategic directives to sustain and accelerate export growth and the Country-specific export plans to be developed, with a strong focus on emerging and non-traditional markets.
\nThe minister directed for establishment of a \u2018Trade Alert System\u2019 to provide real-time responses to global trade disruptions, including SPS\/TBT concerns and trade remedy actions.
\nThe revitalization of Sectoral export Councils to ensure effective private sector consultation and evidence-based policy making and adoption of Artificial Intelligence and data analytics for smarter trade intelligence, product-market alignment, and strategic global marketing also ensured.
\nThe minister also directed a comprehensive national strategy for services exports, focusing on ICT, freelancing, and creative industries, to be developed as a priority.
\nAt the conclusion, the minister stated \u201cOur export growth, especially in value-added and non-traditional sectors, reflects the resilience and adaptability of Pakistan\u2019s trade ecosystem.
\nThe government remains fully committed to supporting the business community, expanding market access, and ensuring Pakistan leverages every bilateral and multilateral framework available.
\nTrade is central to our economic transformation and job creation strategy, and the Ministry will continue to facilitate, innovate, and deliver.\u201d
\nThe meeting concluded with a strong reaffirmation that the Ministry of Commerce is committed to building a resilient, diversified and competitive export base, aligned with national development goals<\/p>\n","protected":false},"excerpt":{"rendered":"
Federal Minister for Commerce, Jam Kamal Khan, chaired a high-level meeting of the Trade Review Committee on Friday to assess Pakistan\u2019s trade performance during the Financial Year 2024\u201325. The meeting brought together senior officials of the Ministry to review sector-wise progress and chart forward strategies amid persistent global trade challenges, said a release issued here. …<\/p>\n","protected":false},"author":4,"featured_media":84710,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-84709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/84709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=84709"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/84709\/revisions"}],"predecessor-version":[{"id":84711,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/84709\/revisions\/84711"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/84710"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=84709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=84709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=84709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}