Early announcement of Strategic Trade Policy Frame Work urged

Karachi: The Union of Small and Medium Enterprises (UNISAME) has urged the Ministry of Commerce (MOC) not to delay the Strategic Trade Policy Frame Work 2012-2015 and announce it before the end of the year for the benefit of trade and industry.

President UNISAME Zulfikar Thaver in a statement felicitated the MOC for preparing an inclusive and comprehensive framework but said the delay in the announcement of Trade Policy (TP) 2012 – 2015 is detrimental to trade, industry, services and the economic activity of the country. The business community is anxiously waiting for the TP as it is framed with very positive outlook for export promotion, import facilitation, bilateral trade, currency swap, most favoured nation (MFN) consideration, value addition & quality control systems.

He added that the establishment of Exim Bank would be a very positive step as all over the world the export import banks play an important role in export promotion and facilitation of imports. The Exim Bank would adopt modern collateral systems and bridge financing for the sector to enable entrepreneurs to import raw materials and packing materials and export finished goods with value addition to global markets under efficient warehousing and bond system.

14 projects will be set up covering logistics, food, dates, chemicals, pharmaceuticals, alternate energy, skill centres, footwear, furniture and handicrafts and indeed will result in value addition he emphasized.

Thaver suggested that the Small and Medium Enterprises Development Authority (SMEDA) be invited to help the MOC in the setting up of the 14 projects as SMEDA has the expertise of projects for the last 12 years and can offer the best in setting up the project.

If the TP is labelled 2012-2015 then it is incumbent for the policy makers to declare it before the end of the 2012 positively for legal compliance.

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